Stock market awaits crucial U.S. jobs report results

Tesla Q4 deliveries rise 2%, miss targets as Musk shifts focus to politics amid stock volatility.

Tesla reported a 2% increase in deliveries for Q4, driven by promotions like interest-free financing and free Supercharging.

Despite setting a record for car sales in the quarter, the total fell short of analyst expectations, missing the target of approximately 515,000 vehicles needed for a stronger 2023 performance.

Overall, Tesla delivered 1.79 million vehicles in 2024, a decline of about 1% compared to the previous year.

Following the delivery report, Tesla’s stock dropped about 5% during midday trading, although shares have risen over 61% since the U.S. election.

BYD, a Chinese competitor, reported a 12% increase in electric-car sales, reaching nearly 1.76 million globally, indicating an increasing competitive landscape.

Wall Street is focusing on CEO Elon Musk’s long-term vision for the company, particularly in robotics and AI, despite the current sales challenges.

As Tesla’s value peaked at $1.5 trillion in mid-December, Musk has drawn attention for his personal ventures.

A recent incident involving a rented Cybertruck in Las Vegas resulted in an explosion that killed one and injured seven. Musk stated that the explosion was unrelated to the vehicle.

Musk has also shifted his focus to political engagements, spending time with President-elect Donald Trump to advocate for cuts in government spending, which investors hope could benefit Tesla, particularly in pursuing autonomous vehicle regulations.