Tesla Stock Drops as Q4 Deliveries, Vehicle Production Fall Short | Global News Avenue

Tesla (TeslaShares of the electric car maker fell Thursday morning after reporting fourth-quarter deliveries that fell short of analysts’ expectations.

The electric vehicle giant delivered 495,570 vehicles in the quarter, up from 484,507 in the same period last year but below the 512,250 consensus estimate compiled by Visible Alpha. Tesla produced 459,445 vehicles in the quarter, well below analysts’ expectations of 503,500 vehicles and below the nearly 500,000 vehicles the company produced last year.

Full-year delivery volume and production fell short of expectations

Tesla’s deliveries and production for the entire fiscal year also fell short of expectations, with deliveries falling year-on-year to about 1.79 million vehicles, slightly lower than analysts’ expectations of 1.8 million vehicles. The company produced 1.77 million vehicles, below analysts’ forecast of 1.82 million.

Shares of the electric car maker have risen since Donald Trump won the election in November. CEO Elon Musk up close The belief that a president-elect and a second Trump administration would benefit Tesla. However, The stock price has fallen back In recent weeks, from reached record levels last month.

Delivery data is also in Tesla Cybertruck explodes In front of the Trump Hotel in Las Vegas, people inside the hotel were killed and many injured. Musk said the company believes the explosion was intentional and not caused by a problem with the vehicle.

Tesla also said Thursday that it will release complete financial results for the current quarter and fiscal 2024 after the market closes on January 29. Tesla shares fell about 4% in early trading on Thursday and were about 20% below last month’s record closing price of $479.86.