Article originally appeared on www.zerohedge.com.
Tesla stock is selling off prior to the cash open on Thursday after the company missed on its Q4 and annual delivery and sales number. Annual vehicle sales actually declined in 2024, marking the first drop in over a decade, despite achieving record deliveries in the fourth quarter.
The company reported sales of 1.79 million vehicles for the year, falling short of the 1.8 million delivered in 2023 and missing analysts’ consensus estimate of 1.8 million.
In the final quarter, Tesla delivered 495,570 vehicles, also below analysts’ projection of approximately 512,277 for the three months ending Dec. 31. Production totaled 459,445, slightly below the 460,705 forecast. Model 3/Y accounted for 471,930 deliveries, with 23,640 from other models, primarily the Cybertruck.
As CNBC notes, Tesla faced a sharp decline in European sales during the fourth quarter as competitors gained market share. …
| View full article |
