Tesla reported a decline in annual deliveries due to competition, but analysts expect growth

From Investing.com: 2025-01-02 09:35:55

Tesla reported its first decline in annual deliveries, missing estimates with 495,570 vehicles handed over in Q4. Reduced European subsidies, U.S. shift to hybrids, and competition from BYD impacted demand. Musk pivoted to self-driving taxis and backed Trump for regulatory relief. Analysts expect growth with cheaper cars and Cybertruck.
Shares fell 3.5% before the bell as investors worry about challenges facing CEO Elon Musk. Deliveries for 2024 totaled 1.79 million, 1.1% lower than the previous year. Analysts predict demand to pick up in 2025 as interest rates are cut by the U.S. Federal Reserve. Tesla’s profit margin was affected by lower prices and incentives last year.



Read more at Investing.com: Tesla annual deliveries fall for first time as competition hurts demand By Reuters