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.

BYD is closing in on Tesla after a record December closed off a good 2024 for the Chinese EV giant. The company sold 4.25 million new energy passenger vehicles last year, according to data released on Wednesday.

China’s BYD Co. enjoyed a year-end surge to push total sales to 4.25 million passenger cars last year, narrowing its gap with Tesla Inc. as the two vie for the crown of top-selling electric-vehicle maker of 2024.