Tesla Inc ( TSLA ) stock surged in 2024, gaining significant attention and value after Donald Trump won the 2024 presidential election.

Here's a look at how the 2024 stock performance compares to Tesla's historical returns since going public in 2010.

What Happened: A soaring valuation for Tesla in 2024 helped the company rejoin the $1 trillion market capitalization club and and made CEO Elon Musk the first individual to surpass a net worth of over $400 billion.

Tesla stock was up 62.5% in 2024 with the majority of the stock gains coming after the 2024 presidential election.

The electric vehicle stock opened trading at $250.08 on Jan. 2, 2024. Despite experiencing several ups and downs throughout the year, Tesla was nearly flat heading into the U.S. election on Nov. 5, 2024, opening at $284.67.

The day after the election, Tesla stock surged, opening at $284.67 and closing at $288.53, marking a major post-election rally.

Tesla hit new all-time highs of $488.54 on Dec. 18, 2024, before ending the year on a streak of several days of price declines.

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Annual Performance: Here's a look at how Tesla's stock has performed each year since its 2010 IPO and how the 2024 figure compares to historical averages.

2024: +62.5%

2023: +101.7%

2022: -65.0%

2021: +49.8%

2020: +743.4%

2019: +25.7%

2018: +6.9%

2017: +45.7%

2016: -11.0%

2015: +7.9%

2014: +47.8%

2013: +344.1%

2012: +18.6%

2011: +7.3%

The data above from Macrotrends shows that the 2024 performance was the fourth best in Tesla history since going public, trailing only 2020, 2013 and 2023, which each saw gains of more than 100%.

Tesla stock has averaged a gain of 99.0% over the last 14 years, with the large price gains in 2023, 2013 and 2020 boosting the average return higher than most years.

Read Also: Tesla’s First Sales Drop Splits Wall Street: ‘2025 Will Be The Prove It Year’

What's Next: Since ending the 2024 calendar year, Tesla has faced a challenging start to 2025. The company reported fourth-quarter deliveries that missed Street consensus estimates, leading to a decline in Tesla stock on the first trading day of the year, Thursday, Jan. 2.

The fourth-quarter deliveries made it official that Tesla saw a year-over-year decline in deliveries for the full 2024 year, its first annual sales decline.

Tesla previously forecasted that its 2024 growth rate would be lower than past years, but had said that it expected to have higher deliveries than in the previous year.

Attention from investors and analysts now shifts to Tesla's fourth-quarter earnings results which will be reported on Jan. 29. Investors and analysts will get a better idea on revenue, margins and guidance during the report.

One of the most watched items will be company commentary on how many vehicles it expects to produce and deliver in 2025 versus prior years.

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