The delivery figures are the first real piece of fundamental news for Tesla investors since the November election sparked a big rally for the stock.

Tesla stock took a dive in morning trading on Thursday after the company announced lower figures than expected for deliveries and fourth-quarter production.

Tesla has reported its first-ever decline in annual deliveries. The total number of deliveries for 2024 hovers at around 1.78 million, but the company delivered 1.81 million vehicles in 2023. Company shares fell by as much as seven percent at the news,

While the annual decline came as a surprise, Tesla at the start of the year had warned observers to temper their expectations for 2024.

Tesla sales declined for the first time in the company's history last year, the company reported Thursday, reflecting what analysts said was a lack of new models in an increasingly competitive market for electric vehicles.

A surge of promotional deals in the fourth quarter failed to stimulate sales enough to top the prior-year results.

Tesla’s global annual sales fell for the first time in more than a dozen years, a blow to a stock that has soared since Donald Trump’s election and its CEO billionaire became a top policy adviser to t

Tesla reported the first full-year drop in sales in its history as a public company Thursday, as increased competition and slowing demand for electric vehicles hit its results.