Tesla reports lower 2024 auto deliveries, missing forecast

Las Vegas: So, Tesla’s had a bit of a rough patch lately. They just reported that their auto deliveries for 2024 didn’t meet expectations. It seems like competition is heating up, especially from companies in China.

They delivered about 495,570 cars in the last quarter, which sounds good, but it wasn’t enough to hit Wall Street’s targets. Overall, they sold just under 1.8 million vehicles for the year, which is actually a slight drop from 2023.

Analysts are saying that the slow rollout of the Cybertruck is part of the problem. Even though it’s been a big deal, the production hasn’t ramped up as quickly as they hoped. After the news, Tesla’s stock took a hit, which isn’t great for them after a strong run since the election.

This year has been a mixed bag for Tesla. Musk has been diving into politics, which has been a bit of a distraction. They’ve also had to cut prices to keep up with demand, which has hurt profits.

Tesla thinks they’re in a transition phase right now, waiting for the next big growth wave. They’re hoping to roll out new models and improve their autonomous driving tech soon. Investors are eager for a more affordable model, especially since the Model 3 starts at around $30,000.

Musk has hinted at a new model coming in 2025, but details are still pretty vague. The Cybertruck deliveries have been underwhelming, and while Musk claims demand is strong, the numbers tell a different story.

There’s a lot of buzz around the Cybertruck, but it’s still not common on the roads. It’s got a unique look that people either love or hate. Plus, there was a tragic incident recently involving a Cybertruck explosion in Las Vegas, which has raised some eyebrows.

Despite the challenges, Tesla’s stock has seen some ups and downs, especially with the political landscape changing. Analysts are still optimistic about the future, especially with advancements in autonomous driving. They believe 2025 could be a turning point for Tesla, so it’s not all doom and gloom.

But for now, shares are down, and it looks like Tesla has some work to do to get back on track.