We are discussing fictional magical means of travel, you may be overthinking it.
Still, a sled is not self-powered. It needs to be drawn by something. If you like to think the reindeer have hyperdrive in order to enable travel that may be plausible. In that case, who is to say the sled does not have access to a pocket dimension that contains all the gifts? The gifts themselves do not need to be transported, only Santa Claus and the device he uses to access aforementioned dimension.
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Still, a sled is not self-powered. It needs to be drawn by something. If you like to think the reindeer have hyperdrive in order to enable travel that may be plausible. In that case, who is to say the sled does not have access to a pocket dimension that contains all the gifts? The gifts themselves do not need to be transported, only Santa Claus and the device he uses to access aforementioned dimension.