Tesla reported its first fall in yearly deliveries on Thursday as lucrative year-end incentives for the Elon Musk-led electric vehicle maker's aging line up and the new Cybertruck pickup failed to lure customers wary of high borrowing costs.
Shares of the company fell about 6%. Musk had earlier predicted "slight growth" in 2024 deliveries and offered a range of promotions including interest-free financing and free fast-charging to boost sales.
But reduced European subsidies, a shift in the United States toward lower-priced hybrid vehicles and tougher competition especially from China's BYD hurt Tesla.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.