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Tesla posted its first drop in vehicle deliveries in more than a decade after its fourth-quarter numbers missed analysts’ estimates, sending shares down 5 percent.
The company said Thursday it delivered 495,570 vehicles in the quarter. Analysts had expected a figure of more than 500,000.
For the full year, Tesla delivered 1.79 million vehicles, slightly below the 1.81 million delivered in 2023 and the first annual decline since 2011, according to Bloomberg data.
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In October, Tesla reported a higher-than-expected quarterly profit and predicted “slight growth” in deliveries for 2024, while Chief Executive Elon Musk predicted that sales of the group’s vehicles could rise 20 percent to 30 percent in 2025.
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