Tesla stock drops 6.1% on decline in annual deliveries, but quarterly sales up

From Nasdaq: 2025-01-03 08:57:44

Tesla, Inc. shares dropped 6.1% after reporting a decline in annual deliveries. Despite weak production, quarterly sales were up. Nasdaq saw a 1.1% rise in extended trading. Tesla projected slight growth in 2024 deliveries and energy storage deployments. Competition from domestic and international automakers is increasing.

In the fourth quarter, Tesla produced 459,445 vehicles and delivered 495,570. Model 3/Y production was 436,718 vehicles. Energy storage deployment hit a record 11.0 GWh. In 2024, total production was 1.773 million vehicles with 1.789 million deliveries. Tesla’s profit in the third quarter exceeded expectations.

CEO Elon Musk announced record deliveries in a challenging market. Tesla’s focus on EVs expands to humanoid robotics and Cybercab robotaxi. The company aims for high robotaxi production. Tesla shares rose after Donald Trump’s win, with Musk becoming a key figure in the Republican Party. Trump appointed Musk to lead a new government department.



Read more at Nasdaq: Tesla Stock Hit On First Decline In Annual Deliveries