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

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Tesla posted its first drop in vehicle deliveries in more than a decade, as fourth-quarter figures missed analysts’ estimates, sending its shares down 5 percent.

The company said on Thursday that it delivered 495,570 vehicles in the quarter. Analysts had expected a figure of more than 500,000.

throughout the year, Tesla It delivered 1.79mn vehicles, down from 1.81mn in 2023 and the first annual decline since 2011, Bloomberg data showed.

In October, Tesla reported better-than-expected quarterly profits and a forecast of “slight growth” for 2024, while CEO Elon Musk predicted the group’s vehicle sales could rise 20 percent to 30 percent in 2025.

This is a developing story.