In 2024, Tesla experienced its first annual sales decline, delivering 1,789,226 vehicles compared to 1,808,581 in 2023, amidst rising competition from new electric models in China, Europe, and the U.S. Despite achieving record fourth-quarter deliveries of 495,570 vehicles, these gains failed to offset the year's earlier sluggish sales. Consequently, Tesla shares fell 6%. Although Tesla pioneered the mainstream electric vehicle market with the Model 3 in 2017, it still maintains nearly half of the U.S. electric car sales.