Tesla posted its first annual sales drop in more than 12 years Thursday, sinking a stock that has soared since Donald Trump’s victory on optimism Elon Musk’s close relationship to the president-elect will help the company.
Tesla's global vehicle sales rose 2.3 percent in the final quarter thanks to 0 percent financing, free charging and low-priced leases. But that was not enough for billionaire Musk’s most valuable holding to overcome a sluggish start to 2024.
The Austin, Texas, company sold 495,570 vehicles from October through December, boosting deliveries to 1.79 million for the full year. That was 1.1 percent below 2023 sales of 1.81 million as overall demand for electric vehicles in the U.S. and elsewhere slowed.
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