- cross-posted to:
- economy
- cross-posted to:
- economy
Summary
Tesla reported its first annual decline in deliveries, with 1.79 million vehicles delivered in 2024 compared to 1.81 million in 2023.
Fourth-quarter deliveries (495,570) fell short of analyst estimates, causing Tesla shares to drop 7%.
Challenges included rising competition in Europe and China, declining sales despite price cuts, and growing inventory of Cybertrucks.
Analysts cited CEO Elon Musk’s political involvement as a potential distraction.
While Tesla plans to release lower-cost autonomous vehicles in 2025, its lack of affordable EVs and intensified competition have strained its market dominance.
I mean, all that proves is that the Stock Market is completely irrational and always has been and using as a metric for whether or not “the economy” is doing good has always been a fucking farce.
Tesla isn’t the only massively overvalued company in existence at the moment, just the biggest and most obvious example.
Theranos was valued at around $9 billion before it all came out that it was a scam.
Damn, I remember that reddit post about the lab rat being told to falsify evidence or lie. I have a friend who’s in the industry and he was going crazy about it.