On January 13th, news surfaced that Stichting Pensioenfonds ABP, Europe's largest pension fund, made a significant financial decision in the last quarter of 2023. The fund sold all of its shares in Tesla, totaling approximately €571 million (around $585 million). This move was influenced, in part, by differences of opinion regarding Elon Musk's compensation scheme.

A spokesperson for ABP disclosed on January 12th that they had concerns about Musk's salary, describing it as contentiousThe pension fund's decision to divest from Tesla was also guided by considerations around costs, returns, and the principles of responsible investing.

In June 2023, ABP had already voiced its opposition to Musk's pay package, deeming it “controversial and excessive.” Nevertheless, despite these objections, Musk's compensation package ultimately received shareholder approval during a vote at Tesla.

Despite the news of their complete divestment, ABP noted that they did not regret the decision, even as Tesla's stock price had seen a considerable rise since the end of September 2023. "We are long-term investors," they emphasized

Furthermore, ABP clarified that the stock sale had no relation to Musk's role in American politics.

This announcement had immediate repercussions, with Tesla's stock dipping by 3% in pre-market trading.

In an interesting twist, Tesla’s sales performance in the preceding year marked a notable milestoneThe electric vehicle giant surpassed Audi in global sales for the first timeOn January 2nd, Tesla revealed that it delivered approximately 1.79 million vehicles worldwide in 2024, reflecting a slight decline of 1.1% from the previous yearThis signified the first annual decrease in sales since 2015 and fell short of analysts' expectations, which anticipated sales of around 1.8 million units.

Projecting to the Chinese market, where Tesla traditionally shows strong results, the figures remained robust

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Estimates based on data from automotive associations and media reports indicated that Tesla recorded domestic sales of 83,000 vehicles in December 2023, representing a month-over-month growth of 12.8%. For the year, total sales exceeded 657,000 units, a year-on-year growth of 8.8%, achieving record numbers.

While it is true that Tesla's overall sales did not meet expectations, they still managed to outstrip Audi, a sought-after high-end German automobile brand for the first timeAudi released figures on January 13th indicating their sales reached 1.67 million units in 2024, down 12% from the previous yearIn contrast, Tesla’s deliveries for the same period soared to 1.79 millionAudi attributed the downturn to decreasing demand in crucial markets like Germany, China, and North America, with deliveries of their electric vehicle models dropping to approximately 164,000.

However, as Tesla's sales enjoyed upward momentum, incidents of recalls began to accumulate globally

Reports from brokerage sources, citing data from the National Highway Traffic Safety Administration (NHTSA), indicated that in 2024, the electric vehicle manufacturer announced a total of 16 recalls affecting over 5 million cars in the U.Salone.

Meanwhile, on January 13th, Tesla showcased developments in its product lineupOn January 10th, the company launched the 2025 rear-wheel-drive version of the Model 3, which has a starting price of 235,500 yuan, representing a price increase of 3,600 yuan over the previous modelThe new Model 3 comes with improved range capabilities, boasting a CLTC electric range of 634 kilometers, an increase of 28 kilometersThis enhancement is attributed to Tesla's ongoing research and development in battery technology and vehicle energy efficiency.

Tesla’s enhancements to battery chemistry and design have notably elevated energy density, resulting in extended vehicle range

In addition, the company optimized the vehicle's propulsion system and body design, significantly lowering energy consumption and improving overall performance.

To further entice customers, Tesla introduced new charging benefits for Model Y and Model 3 ownersConsumers looking to purchase these new vehicles could choose between a Cybervault home charging station at a discounted rate or three years of supercharging offers, available for 1,299 yuanThis initiative aims to alleviate potential buyers' concerns regarding charging accessibility and costs, which have become crucial considerations in the burgeoning electric vehicle market.

By providing attractive charging options, Tesla not only bolsters the inclination for consumers to select its vehicles but also enhances the overall user experience, cultivating brand loyalty