Tesla Model 3 and Model Y account for over 95% of total global sales in 2024
The global sales of Tesla experienced a fall for the very first time in over a decade. That is a huge deal because the expected growth for EVs was much higher. This is true not just for Tesla, but for every car marque across the globe. We know that 2024 was a year which showcased a slowdown in EV sales in some of the biggest automobile markets including the U.S., China and Europe. As a consequence, the sales reports have been a mixed bag for automobile giants.
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Tesla Sales Fall
The largest EV maker in the world managed to sell 1,789,226 cars in 2024. However, back in 2023, this number was over 1.8 million. What is absolutely mind-boggling is that the Model 3 and Model Y contributed over 95% to the overall sales. This leaves the Model S, Model X and Cybertruck with less than 5% market share. This highlights the popularity of the Model 3 and Model Y across the globe. To put things into perspective, Tesla sold 1,704,093 Model 3 and Model Y EVs and just 85,133 other models.
Furthermore, Tesla managed to deliver 495,570 EVs in Q4 of 2024. Interestingly, this was higher than Q3 2024 where it delivered a record 462,890 cars. However, Tesla needed to sell over 510,000 EVs in Q4 if it were to achieve higher yearly sales. Since that didn’t happen, this marked the first time in over a decade that Tesla witnessed a decline in its yearly sales.
Nevertheless, all is not lost for the largest EV company on the planet as it posted a strong performance in its energy business. In Q4 of 2024, Tesla delivered a record 11 GWh of energy storage products. More details pertaining to this sector will surface on January 29. Tesla CEO Elon Musk remarked about the company’s future that he is predicting 20% growth in sales for 2025. I reckon the upcoming sub-$30,000 EV might have something to do with that.
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Learn Electric Cars Says
It is fascinating to see the sales report for 2024. Tesla’s performance is definitely a surprise for everyone despite having a stellar Q4. Also, the overall slowdown in the EV industry hurt a lot of car companies. However, other auto giants like Rivian posted a marginal growth in 2024 in comparison to 2023. Hence, we have both sides of the equation. I am curious to see how things pan out once we have the most affordable Tesla on sale.