Tesla beats Audi in global sales
Tesla beats Audi in global 2024 car sales
Tesla Inc. has overtaken Audi, one of Germany’s premier luxury car brands, in global sales for 2024, despite delivering fewer vehicles than analysts had projected.
Tesla delivered 1.79 million cars last year, surpassing Audi’s 1.67 million—a 12% decline from the previous year. The shift highlights the growing competition in the electric vehicle (EV) market and the challenges German carmakers face in adapting to evolving consumer preferences, reports Bloomberg.
Decline in Audi’s Sales and Broader Industry Pressures
Audi's sales slump reflects broader headwinds for traditional carmakers, particularly in Europe and China. The brand experienced declining deliveries across key markets, including Germany, China, and North America.
Notably, Audi’s sales of fully electric models dropped 8%, totalling around 164,000 units. Struggles with weak EV demand in China, an uncertain recovery in that market, and stiff competition from domestic manufacturers moving upmarket have exacerbated challenges for Germany’s carmakers.
In Europe, the EV sector has fallen short of expectations following subsidy cuts in several countries, compounding the difficulties for carmakers like Volkswagen, Mercedes-Benz, and BMW. Volkswagen, Audi's parent company, has responded by scaling back production and is planning to shut its Brussels facility due to low demand for its electric Q8 e-tron SUV.
Tesla’s Resilience Amid Challenges
While Tesla outperformed Audi, the American EV giant also faced difficulties in 2024. The company posted its first annual deliveries decline in over a decade, narrowly maintaining its position as the world’s top seller of fully electric cars, ahead of China’s BYD Co.
Despite this, Tesla’s ability to capture market share from legacy luxury brands signals its strong foothold in the premium EV segment. Tesla’s rise above Audi underscores the shifting dynamics in the global automotive market, as electric vehicles continue to disrupt traditional hierarchies.
However, challenges remain for both legacy manufacturers and EV leaders as they contend with fluctuating consumer demand and intensifying competition, particularly in the pivotal Chinese and European markets.
Reminder, Stichting Pensioenfonds ABP, Europe’s largest pension fund, has sold its entire €571 million ($585 million) stake in Tesla Inc. during the third quarter of 2024, citing disagreement with Elon Musk’s record-breaking compensation package.
