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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Tesla Stock Drops 6% on Annual Sales Decline Despite Record Q4 Deliveries as BYD Closes in Fast

Tesla Inc. BYD Elon Musk X Dan Ives
Tesla deployed a record 11 GWh of energy storage products in Q4. (Credit: Tesla)

Tesla (NASDAQ: TSLA) stock price fell by over 6% on 2nd January to close at £305.67 ($379.28) as the Elon Musk-owned EV company's 2024 deliveries declined to 1.78 million units from 1.8 million in the year prior.

Yesterday, Tesla disclosed that it delivered 495,570 EVs in Q4, a quarterly record for the company, but it missed analysts' estimates of 510,400 units.

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