Tesla reports fourth-quarter vehicle deliveries of 495,570, up from a year earlier but below estimates of about 507,000.

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

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

Tesla is about to release delivery and production data for Q4, with analysts expecting a record quarter. But will 2024 top 2023's total? Tesla stock rose.

Wall Street is expecting fourth-quarter shipments of about 507,000 vehicles, but the EV maker might not have to hit that total to keep the stock from falling.

Tesla had said it expected "slight" vehicle delivery growth in 2024 after the company saw vehicle deliveries rise 38% to 1.81 million in 2023. However, with unit sales lagging in