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Also a lacklustre demand for electric cars in general. Other manufacturers also impacted and probably the primary driver.

• bryanlarsen 3y ago
  EV's grew 31% in 2023 and will likely do a similar amount in 2024. The issue is that the number of available vehicles grew more than 31%; expectations were for around 50% growth. I don't think you can call 31% growth lacklustre.
• acdha 3y ago
  Lackluster demand for very expensive vehicles is down across the board, and Tesla has only been serving the higher-end market. A lot of manufacturers were banking on interest rates staying low but there was no way that could last forever - the average ICE last year cost more than the US median income, at a time when many other prices were also rising. Based on the people I know who’ve bought recently, an EV targeting Camry pricing and quality would sell a lot better than the massive bling-tanks they had sitting in stock.