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Bloomberg Intelligence
Tesla’s Annual EV Sales Drop
Jan 2, 2025
Kathy Entwistle, Managing Director at Morgan Stanley Private Wealth Management, shares insights on market outlooks and investment strategies, emphasizing the importance of diversified portfolios amid Tesla's sales dip. Mark Douglas, President and CEO of MNTN, discusses the evolving landscape of digital media and the future of streaming—particularly in sports broadcasting as traditional networks face competition from platforms like Netflix. The conversation highlights the implications of Tesla's challenges on the EV market and the intersection of tech investments and media trends.
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Quick takeaways
- Tesla's first annual drop in EV sales highlights the impact of affordability challenges and the importance of incentives in the market.
- The shift towards battery cost reduction and enhanced charging infrastructure is crucial for boosting future EV sales and consumer adoption.
Deep dives
Tesla's EV Sales Drop and Future Projections
Tesla experienced its first annual drop in electric vehicle (EV) sales in over a decade, totaling approximately 1.79 million vehicles sold in 2024. While the fourth quarter showed a slight increase of 2%, the decline is attributed to various incentives introduced to stimulate demand amidst rising affordability issues. Analysts anticipate that the guidance for 2025 will improve with the introduction of new vehicle models, including an affordable EV priced below $30,000 when factoring in government credits. This development highlights the critical interplay between manufacturing costs, tax incentives, and consumer demand in shaping the EV market's trajectory.
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