NEW YORK, January 3, 2026, 10:54 ET — Market closed
- Tesla closed down 2.6% Friday after reporting quarterly deliveries and record energy-storage deployments.
- European registration data showed sharp December declines in key markets even as Norway hit a record year.
- The next major catalysts include the Jan. 9 U.S. jobs report and Tesla’s Jan. 28 earnings.
Tesla (NASDAQ: TSLA) shares closed down 2.6% at $438.07 on Friday, after swinging between $435.30 and $458.34 in the first U.S. session of 2026.
Tesla said it delivered 418,227 vehicles in the fourth quarter and 1,636,129 in 2025, while energy storage deployments hit a quarterly record of 14.2 gigawatt-hours, a measure of energy capacity. The company said it will report fourth-quarter financial results on Jan. 28 after the market close.
The delivery tally — vehicles handed over to customers — is one of the fastest reads on demand for the world’s most valuable automaker. That matters more after the $7,500 U.S. federal tax credit for new EVs expired at the end of September, removing a key support for sticker prices across the sector.
Tesla’s fourth-quarter deliveries came in below analysts’ expectations of 434,487, according to Visible Alpha data cited by Reuters, and the company ceded the title of the world’s top EV maker to China’s BYD, the report said. “Investors are so focused on the future with Tesla that they are ignoring delivery numbers. It’s about Optimus, Robotaxi and physical AI,” said Dennis Dick, a trader at Triple D Trading. Reuters
In Europe, Tesla registrations fell 66% in France and 71% in Sweden in December, while Norway bucked the trend with an 89% jump that helped deliver a record year there, Reuters reported. Industry data showed Tesla’s share across Europe, Britain and the European Free Trade Association slipped to 1.7% through November from 2.4% a year earlier, even as overall battery-electric sales gained share.
For investors, that mix is uncomfortable: deliveries signal demand, but Tesla’s valuation increasingly leans on a narrative that it is more than a carmaker. Any sign the core auto business is slowing forces the market to decide how much it is willing to pay for the autonomy-and-robotics story right now.
Rivian (NASDAQ: RIVN), another U.S. EV maker, also flagged demand pressure this week, reporting 2025 deliveries of 42,247 vehicles and saying it will post results on Feb. 12 after markets close. Reuters said investors are focused on Rivian’s lower-priced R2 SUV due in the first half of 2026, a model expected to compete with Tesla’s Model Y.
The broader backdrop is turning less forgiving for growth stocks. Reuters reported investors are bracing for a busy January stretch that includes the Jan. 9 U.S. jobs report and the Jan. 13 consumer price index, while fed funds futures — derivatives that reflect interest-rate expectations — price about a 50% chance of a quarter-point cut in March.
The Federal Reserve’s next policy meeting is scheduled for Jan. 27-28.
The Labor Department has scheduled the December employment report for Jan. 9 at 8:30 a.m. ET.
Before next session, traders will be watching whether Tesla can hold above the $435 area, Friday’s low, after the stock faded from an early push toward $458. Short-term sentiment has turned sensitive to any fresh read on demand and pricing.
The next company catalyst is Tesla’s Jan. 28 earnings, where investors will press for clarity on delivery trends, pricing and margins, alongside updates on autonomy and the Optimus robot. Management commentary on how the company plans to defend volumes without eroding profitability is likely to set the tone for the stock into February.
