Tesla’s annual deliveries decline for the first time since 2011

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Tesla posted its first drop in vehicle deliveries in more than a decade, with fourth-quarter numbers falling short of analyst estimates, sending shares down 5 percent.

The company said Thursday that it delivered 495,570 vehicles in the quarter. Analysts expected the number to reach more than 500,000.

for a whole year, Tesla It delivered 1.79 million vehicles, slightly less than the 1.81 million vehicles delivered in 2023, the first annual decline since 2011, according to Bloomberg data.

In October, Tesla reported higher-than-expected quarterly profits and forecast “slight growth” in deliveries for 2024, while CEO Elon Musk predicted the group’s car sales could increase by 20 percent to 30 percent in… Year 2025.

This is a developing story