THE EV BUBBLE IS DEFLATING: Tesla’s Global Vehicle Deliveries Fell in 2024 for the First Time in Years.

Tesla’s annual vehicle deliveries fell in 2024 for the first time in more than a decade, after a surge of promotional deals in the fourth quarter failed to stimulate sales enough to top the prior-year results.

The world’s most valuable automaker posted a slight 2% increase in deliveries for the fourth quarter, leaning heavily on promotions, such as interest-free financing deals and free Supercharging, to entice buyers.

While it sold a record number of cars during the three-month period, the final quarterly tally still missed analysts’ expectations and fell short of the roughly 515,000 vehicles it needed to sell in the fourth quarter for Tesla to top its 2023 performance on a full-year basis.

For all of 2024, Tesla delivered 1.79 million vehicles worldwide, down about 1% from a year earlier.

That’s still a lot of EVs, which is still a lot more EVs than people would buy without various government incentives and mandates.