Tesla has reported its first-ever decline in annual deliveries, with 1.78 million vehicles delivered in 2024 compared to 1.81 million in 2023, leading to a drop in shares.
Analysts expected a stronger Q4 with delivery predictions around 506,000, but Tesla only recorded 495,000, revealing a potential gap between expectations and performance.
Tesla is facing intensified competition in the EV market from companies like Rivian, as well as legacy auto players like BMW, GM, Hyundai, and Volkswagen.
Despite the decline in deliveries, Tesla's stock saw a significant increase of 60 percent from 2023, reaching a new high at the end of the year.
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