After years of strong double-digit, sometimes even triple-digit growth, Tesla suffered its first annual sales decline in 2024. After delivering 1.81 million vehicles to customers in 2023, the long-time global EV leader shipped 1.79 million cars last year. While that is an admittedly small decline of just 1.1 percent and Tesla shipped more cars than ever before in the fourth quarter, the drop from 38 percent growth in 2023 to a 1 percent decline is significant and might worry some shareholders, especially considering that Tesla is valued like a growth company, with a price-to-earnings ratio that can only be justified by strong future growth.