Tesla's Q4 Deliveries Shortfall Elon Musk's automaker handed over 495,570 EVs last quarter, coming in well under analysts' average estimate of 506,673. In Q4 of 2023, the company delivered 484,507 EVs.

"Looking to FY25, we remain highly confident in Tesla’s ability to accelerate delivery growth into FY25 with 20%-30% delivery growth targets the focus for the Street as TSLA is also expected to launch its lower-priced EV in early 2025 to spur growth for vehicle deliveries," wrote Wedbush Securities analyst Dan Ives on Outperform-rated TSLA.

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

After growing at least 35% every year from 2016 to 2023, Tesla’s year-over-year vehicle delivery growth slumped to -1% in 2024.

Tesla's annual deliveries fell for the first time in 2024 despite the electric automaker handing over a record number of units in the fourth quarter, indicating tepid demand for its aging line-up of models.

Tesla shares sank Thursday morning after the electric vehicle maker reported fewer deliveries than analysts had expected for the fourth quarter.

Tesla reported record fourth-quarter deliveries early Thursday, but the number came in below analyst expectations as the company failed to hit its target of annual vehicle unit growth compared to 2023.