Tesla has reported its fourth-quarter and year-end vehicle production and deliveries, revealing a first-ever annual drop in deliveries. Despite facing increased competition from companies like Hyundai and BYD, Tesla delivered 1.81 million vehicles in 2023, including 484,507 in the fourth quarter. This falls short of analyst expectations, which predicted deliveries closer to 505,000.
Tesla 's fourth-quarter and year-end vehicle production and deliveries report follows a huge late-year rally in the company's stock price.
Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Sam Fiorani, a vice president at industry research group Auto Forecast Solutions, told CNBC in an email that Musk's foray into politics may have"pulled his focus away from his core businesses." However, the degree to which investors or EV buyers care won't be reflected in Tesla's numbers until the first quarter, he said.
With competitors picking up market share in Europe, Tesla experienced a steep drop in sales in the region during the fourth quarter.
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