Tesla deliveries miss expectations, stock drops 4% By Investing.com

Investing.com — Tesla reported a record vehicle deliveries and deployed 11.0 GWh of energy storage products in the fourth quarter, the company said Thursday. However, deliveries came in below consensus expectations.

The electric vehicle giant said its deliveries in the quarter came in at 495,570, below the consensus estimate of 512,277. Tesla also produced approximately 459,000 vehicles during the quarter.

Deliveries for the Model 3 and Model Y reached 471,930 units, while other models, contributed an additional 23,640 deliveries. 

On a full-year basis, Tesla (NASDAQ:) delivered a total of 1.79 million vehicles, with the Model 3 and Model Y accounting for over 1.7 million of those deliveries. However, Tesla’s annual EV sales declined for the first time in over a decade. 

Elsewhere, energy storage deployments reached a total of 31.4 GWh for the year.

Tesla plans to release its Q4 2024 financial results on January 29, 2025, after market close.

Tesla shares are down around 4% premarket following the news.