Tesla shares sink as car deliveries post surprise drop for first year ever

Tesla reported its first decline in annual deliveries on Thursday, as the automaker handed over fewer-than-expected electric vehicles in the fourth quarter and incentives failed to boost demand for its aging line-up of models.

Shares of the company closed down 6.1%, indicating investor worries over the challenges facing CEO Elon Musk, who expected promotions including zero-interest financing to power a “slight growth” in deliveries in 2024.