In the pre-opening session of the New York Stock Exchange, the shares fell by 3%, as investors were concerned about the effects on Tesla’s deliveries following the intensification of competition, the absence of subsidies in some markets in Europe and reduced consumer spending in China.
Tesla vehicle registrations in Europe fell 24% in October, with the Skoda Enyaq SUV dethroning the Model Y as the best-selling EV in the region, according to data from market research firm JATO Dynamics.
Lower prices and incentives hurt Tesla’s profit margin last year, but Wall Street analysts expect demand to pick up in 2025 amid interest rate cuts by the US Federal Reserve (Fed).
In the fourth quarter of 2024, Tesla delivered 471,930 units of the Model 3 and Model Y, and 23,640 other models, including the Model S sedan, the Cybertruck and the premium Model X SUV. The company produced 459,445 vehicles in the last three months of 2024.
In total, Tesla delivered, in the last quarter of last year, 495,570 vehicles, while analysts expected 503,269 units.
In 2024, the company delivered 1.79 million cars, down 1.1% from 2023, and below analysts’ estimates of 1.806 million units.
AGERPRES
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