There does not appear to be an obvious savior on the horizon for Tesla, either. The Cybertruck remains the company’s most identifiable vehicle thanks to its futuristic dumpster vibe, but the company shipped fewer than 50,000 units in 2024 and it seems like the demand for the truck is flattening out or declining.

The premiere EV company in the US produced 1.77 million cars this year, a drop of about 4 percent compared to the previous year, and delivered 1.79 million vehicles this year, or about 1 percent less than 2023. Tesla also deployed 31.4 GWh in energy storage.

While the annual decline came as a surprise, Tesla at the start of the year had warned observers to temper their expectations for 2024.

Shares of the company fell about 4% Thursday, indicating investor worries over the challenges facing CEO Elon Musk.

Tesla’s global annual sales fell for the first time in more than a dozen years, a blow to a stock that has soared since Donald Trump’s election and its CEO billionaire became a top policy adviser to t

Tesla’s global sales rose 2.3% in the fourth quarter, but the increase wasn’t enough to overcome a sluggish first half, and sales for the full year fell short of 2023 numbers

Tesla reported its first fall in yearly deliveries on Thursday as lucrative year-end incentives for the Elon Musk-led electric vehicle maker's aging lineup and the new Cybertruck pickup failed to lure customers wary of high borrowing costs.