3 sources·Business

Tesla Faces Challenges Amid First Annual Drop in Deliveries

Tulsa is experiencing regulatory hurdles, competition, and disappointing delivery numbers, prompting investor concerns about the company's future prospects.

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Updated: Jan 3rd, 2025, 5:52 PM ET

Summary

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Tesla has reported its first ever annual drop in deliveries, with a total of 1.79 million vehicles sold in 2024. These results have triggered warnings from analysts regarding potential regulatory impacts and shifts in consumer preferences. Despite Elon Musk's involvement with the Trump administration, analysts at JPMorgan predict that proposed cuts to EV subsidies could impact Tesla's revenues significantly. The company faces increased competition in the EV market, and while it holds advantages like a robust charging network, its strategy with pricier models like the Cybertruck may have hindered its performance. Moving forward, analysts emphasize the need for Tesla to consider introducing more affordable models to address shifting market dynamics.

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Tesla Faces Challenges Amid First Annual Drop in Deliveries - Pano News