Tesla posted weaker-than-expected fourth-quarter deliveries, leading to the company’s first year-over-year sales decline.Shares were weak but investors soon will look past the deliveries figure. They are focused on a new model and self-driving cars in the new year.

The delivery figures are the first real piece of fundamental news for Tesla investors since the November election sparked a big rally for the stock.

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

Tesla posted its first annual sales drop in more than a dozen years Thursday, sinking a stock that has soared since Donald Trump's victory on optimism Elon Musk's close relationship to the president-elect will help the company.

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

Shares in Tesla fell more than 3% premarket, after Elon Musk's automaker reported its first annual decline in vehicle deliveries in more than a decade. Get the full story:

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Tesla reported its first drop in annual deliveries in at least nine years, despite an increase in its numbers during the fourth quarter of 2024.  The Austin, Texas-based company said on Thursday

Shares of the company fell about 4% Thursday, indicating investor worries over the challenges facing CEO Elon Musk.

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.