In 2024, Tesla witnessed its first annual drop in vehicle deliveries, falling to 1.77 million from 1.81 million in 2023. The much-anticipated Cybertruck, Tesla's first major new model since 2020, contributed minimally to sales, with only 85,133 vehicles delivered from an aging lineup. This decline raises concerns about Tesla's ability to attract new buyers and meet its previously promoted 50% annual growth target. The company has also faced restructuring challenges and laid off over 10% of its workforce. Tesla's stock dipped nearly 2% in pre-market trading following the announcement.