Tesla Stumbles: A Dip in Annual Deliveries

Tesla has reported a decline in its annual vehicle deliveries, missing CEO Elon Musk's growth expectations for 2024. Despite setting a new quarterly record, the automaker's annual figures fell short of estimates due to waning demand and an aging lineup of electric vehicles.

Tesla revealed a slide in its annual deliveries on Thursday, marking a deviation from CEO Elon Musk's growth forecasts for 2024. The automaker's attempts to rekindle demand through incentives could not offset the diminishing interest in its maturing electric vehicle lineup.

In the last quarter of the year, Tesla delivered a record-breaking 495,570 vehicles, yet fell short of analysts' predictions, which anticipated 503,269 unit deliveries, as per a survey by LSEG involving 15 analysts.

The overall delivery figures for 2024 stood at 1.79 million, reflecting a 1.1% drop from the previous year and missing an average estimate of 1.806 million units, according to data from 19 analysts surveyed by LSEG.

(With inputs from agencies.)