United States electric vehicle (EV) manufacturer Tesla announced record sales of over 657,000 vehicles in 2024, marking an 8.8% annual increase.

However, global deliveries fell by 1.1% during the same period.

In December 2024, Tesla sold 83,000 vehicles in China, which represents a 12.8% increase from November.

China, Tesla’s second-largest market, accounted for 36.7% of the company’s total deliveries that year.

Despite the record sales, Tesla did not meet CEO Elon Musk’s expectation of slight growth for 2024.

The decline in deliveries was influenced by factors such as reduced EV subsidies in Europe, the growing popularity of lower-priced hybrid vehicles in the US, and intensified competition from China’s BYD.

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