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

The delivery figures are the first real piece of fundamental news for Tesla investors since the November election sparked a big rally for the stock.

Tesla has reported its first-ever decline in annual deliveries. The total number of deliveries for 2024 hovers at around 1.78 million, but the company delivered 1.81 million vehicles in 2023. Company shares fell by as much as seven percent at the news,

Tesla delivered about 495,000 EVs in the fourth quarter. 2024 was the first year that Tesla's EV shipments decreased year over year. Investors should look beyond just its EV shipments for a case to own the stock.

Wall Street is expecting fourth-quarter shipments of about 507,000 vehicles, but the EV maker might not have to hit that total to keep the stock from falling.

Increased competition and concern from buyers about the price of electric vehicles means lower-than-average sales for the US company behind the Cybertruck. View on euronews