After growing at least 35% every year from 2016 to 2023, Tesla’s year-over-year vehicle delivery growth slumped to -1% in 2024.

Tesla’s annual vehicle deliveries fell in 2024 for the first time in more than a decade, after a surge of promotional deals in the fourth quarter failed to stimulate sales enough to top the prior-year results.

Tesla shares sank Thursday morning after the electric vehicle maker reported fewer deliveries than analysts had expected for the fourth quarter.

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

Tesla's annual deliveries fell for the first time in 2024 despite the electric automaker handing over a record number of units in the fourth quarter, indicating tepid demand for its aging line-up of models.

Tesla reported record fourth-quarter deliveries early Thursday, but the number came in below analyst expectations as the company failed to hit its target of annual vehicle unit growth compared to 2023.

Tesla (NASDAQ:TSLA) reported deliveries of 495,570 for Q4 to fall well short of the consensus estimate for a tally of 506,673 vehicles. The electric vehicle maker said it produced 459,445 vehicles during the quarter.

Tesla reports fourth-quarter vehicle deliveries of 495,570, up from a year earlier but below estimates of about 507,000.

CNBC's Phil LeBeau reports on a preview of Tesla's deliveries results. Trump wants to end birthright citizenship. The Constitution could stand in the way Oregon quarterback Dillon Gabriel suggests all football games should be played without bad weather A missing woman investigation has been solved after 52 years - and she's alive 10 Best The Far Side Comics Featuring Frankenstein’s Monster,