Tesla delivered fewer vehicles in 2024 than in 2023, marking the first time the company has seen a decline in its year-over-year sales figures.

Tesla announced the figures Thursday along with its fourth-quarter results. The company said it delivered 1.77 million electric vehicles globally in 2024, down from 1.81 million in 2023.

That’s a 2.2% decrease in year-over-year deliveries and evidence of Tesla’s slowing growth the past 12 months. While the company offered steep price cuts on many of its popular vehicles and offered new models, demand for electric vehicles wasn’t strong enough to boost Tesla’s sales.

Only 85,133 of Tesla’s 1.77 million delivered vehicles were so-called other models like the Model S sedan and the futuristic Cybertruck.

While Tesla is still the dominant brand in electric cars in the U.S., its market share has been slipping. In 2024, the Austin, Texas-based company officially dropped below 50% market share as competitors from Detroit and China pulled away customers.

Additionally, while Tesla CEO Elon Musk’s association with conservative politics and President-elect Donald Trump may have significantly boosted the company’s stock price, it also hurt the company among some investors and customers.

The past year also saw Tesla move away from its focus on traditional electric vehicles and toward futuristic goals like artificial intelligence and robotics.

In October, the company announced it would soon launch a robotaxi fleet. Around the same time, Tesla abandoned plans to build a more affordable EV for under $25,000.

• Vaughn Cockayne can be reached at vcockayne@washingtontimes.com.