(News Bulletin 247) – The American electric vehicle specialist is falling sharply on Wall Street after announcing a decline in its annual deliveries for the first time in more than 10 years.

The market did not expect such a bad start to the year for Tesla, which had a very good 2024 year (+63%), significantly helped by the victory of Donald Trump.

The automotive group specializing in electrics and led by Elon Musk is at a standstill for this first session of the year. Its action dropped 4.5% at the start of the session on Wall Street, due to annual deliveries lower than expectations.

Over the last three months of 2024, the group delivered a total of 495,570 vehicles. Tesla’s deliveries certainly saw a big boost at the end of 2024, but they were lower than the expectations of analysts surveyed by Bloomberg who were counting on 510,400 vehicles delivered during the past quarter. And on an annual basis, Tesla also missed the mark, since it needed to sell 515,000 units in the fourth quarter to achieve its objective of “slight” growth for the whole year, announced last October.

Annual decline in deliveries

The car manufacturer thus revealed annual deliveries of 1,789,226 cars, or 1% less than the 1,808,581 delivered in 2023. This is clearly a disappointment, Tesla therefore failed to achieve an objective to deliver 2 million vehicles, as in 2023.

According to Bloomberg, this is the first time that the company has seen a decline in its deliveries in more than 10 years. Previously, Tesla expected to increase its sales by 50% per year…

The Texan manufacturer was notably faced with fierce competition from Chinese manufacturers coupled with a sharp slowdown in adoption of electric vehicles. The group notably had to agree to big price cuts to avoid being left behind by Chinese rival BYD.

On Wall Street, Tesla remains on the verge of the rebound of the American markets for this first session of the year 2025. The Dow Jones and the Nasdaq gain more than 0.7% while the S&P 500 gains 0.90 % around 4:15 p.m.