In 2024, Tesla experienced its first decline in electric vehicle sales in years, delivering 1.79 million cars, down from 1.81 million in 2023. Driven by weaker demand, especially in Europe, the company offered significant incentives but fell short of its sales targets. Elon Musk views Tesla as being ‘between two growth waves’ while pushing for advancements in autonomous driving technology. Meanwhile, Chinese competitor BYD saw a 41% sales increase, challenging Tesla’s position as the leading electric vehicle brand.