Written by Cláudio Afonso | LinkedIn | X
Tesla surpassed Audi in global vehicle sales in 2024, marking the first time the U.S. electric vehicle (EV) maker has outsold the German luxury automaker.
Audi reported on Monday that it delivered 1.67 million units last year, a drop of 12% when compared to 2023. The Elon Musk-led company delivered 1.79 million vehicles globally in 2024, 1% below the 1.81 million vehicles it sold in the previous year.
Tesla’s fourth-quarter deliveries reached a record 495,570 vehicles, helping to cement its lead over Audi despite the slight annual decline. For this year, Musk had forecasted deliveries to grow 20 to 30% which would send Tesla’s annual figures to above 2.148 million units in 2025.
Audi attributed its weaker performance to the impact of “geopolitical and industrial conditions.” The Volkswagen-owned brand’s fully electric models saw an 8% drop in global deliveries to approximately 164,000 units. The company added that its updated product portfolio is only beginning to impact global sales volumes.
In its home market, sales fell 21%, while in China—which Audi called an “intensely competitive market”— deliveries dropped 11% to more than 649,000 vehicles.
Morgan Stanley analyst Adam Jonas released a new research note on Tesla earlier this Monday, raising the firm’s price target by $30 to $430. The analyst described the update as “the most extensive re-architecture and expansion of our Tesla Mobility (robotaxi) model since it was initially published in 2015” and reaffirmed the stock as the firm’s ‘Top Pick.’
Tesla unveiled last week its highly anticipated refreshed Model Y, with deliveries starting in China in March. Prices for the new Model Y start at 263,500 yuan ($35,900), a 5.4% increase over the previous version, Tesla’s China website showed.
Written by Cláudio Afonso | LinkedIn | X
