MicroWave@lemmy.world to

News@lemmy.worldEnglish · 8 months ago

Tesla shares slide after it reports first drop in annual deliveries

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Tesla shares slide after it reports first drop in annual deliveries

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 8 months ago

Tesla's fourth-quarter deliveries report follows a huge late-year rally in the stock that lifted its gain for 2024 to 63%.

Summary

Tesla reported its first annual decline in deliveries, with 1.79 million vehicles delivered in 2024 compared to 1.81 million in 2023.

Fourth-quarter deliveries (495,570) fell short of analyst estimates, causing Tesla shares to drop 7%.

Challenges included rising competition in Europe and China, declining sales despite price cuts, and growing inventory of Cybertrucks.

Analysts cited CEO Elon Musk’s political involvement as a potential distraction.

While Tesla plans to release lower-cost autonomous vehicles in 2025, its lack of affordable EVs and intensified competition have strained its market dominance.

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xmunk@sh.itjust.works
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8 months ago
Truly Elon is a Savant of our time to build such an incredibly successful company while failing to even capture an appreciable proportion of actual sales. Real “voice of a generation” level shit.

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