The automaker saw sales of its EVs drop 13% in the European Union in 2024, and is facing growing pressure as rivals launch a wave of cheaper EVs.

In the same week as DeepSeek’s AI emerged from almost nowhere to upend global tech giants and panic stock markets, another Chinese car company you may never have heard of rolled into Ireland. And Xpeng has Tesla very much in focus in terms of new and conquest sales.

Tesla is challenging the European Union in court over the tariffs imposed on its Chinese electric vehicles despite getting

Although Tesla is an American company, it builds Model 3s in Shanghai and exports them to Europe. According to The Financial Times, Tesla accounted for approximately 28% of all Chinese-made EVs imported to the EU in 2023.

The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.

Tesla launched a refreshed version of its best-selling Model Y in the US and Europe as the company looks to reverse its first annual sales decline in over a decade.

The refreshed version comes ahead of a widely anticipated launch of a cheaper model in the first half of 2025.

The launch of a refreshed version of Tesla's most popular car, the Model Y, comes as the company fights its first-ever sales decline.

During the fourth quarter of 2024, Tesla said it earned $2.3 billion in net income on $25.7 billion in revenue. That represents a 1.9 percent increase year over year compared to $25.2 billion in revenue in Q4 2023 and a 70 percent decrease in net income. (The company’s net income in Q4 2023 includes a one-time non-cash tax benefit of $5.9 billion.)

Tesla sold 36% more vehicles in 2024 than it did two years before, as well as far more battery capacity, and yet operating profit fell by about half.

Tesla investors will look for more details on the automaker's lower-priced model when it reports quarterly results on Wednesday.

An opinion poll conducted last week might finally shed some light on just how many of Musk’s customers suffer from “Tesla shame.”