The wait’s over, but not quite in the way Tesla TSLA investors were hoping. The electric vehicle (EV) giant released its 2024 vehicle delivery report yesterday, and the numbers have been disappointing.

The premiere EV company in the US produced 1.77 million cars this year, a drop of about 4 percent compared to the previous year, and delivered 1.79 million vehicles this year, or about 1 percent less than 2023. Tesla also deployed 31.4 GWh in energy storage.

Tesla Inc.’s annual vehicle sales dropped for the first time in more than a decade despite a year-end push that sent deliveries to a record in the fourth quarter.

Chinese electric-vehicle growth continued in December, with BYD set to take the crown of largest seller from Tesla for the second time. Growth alone, however, wasn’t enough to give all the Chinese EV stocks a boost.