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✓ Published: 04-Apr-2024
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✓ Published: 04-Apr-2024
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Tesla Inc.'s vehicle deliveries for the first quarter significantly underperformed Wall Street expectations, the company's largest miss in seven years based on Bloomberg's data. The EV giant delivered 386,810 vehicles, falling short of average estimates and resulting in a 4.9% drop in its share price. Tesla's first-quarter performance was hindered by higher interest rates, operational issues at its Berlin plant, Elon Musk's contentious social media presence, and increased competition in China's EV market. Analysts expected Tesla to surpass its sales from the prior year, yet the company's deliveries fell by 8.5%.
Tesla Inc.'s vehicle deliveries for the first quarter significantly underperformed Wall Street expectations, the company's largest miss in seven years based on Bloomberg's data. The EV giant delivered 386,810 vehicles, falling short of average estimates and resulting in a 4.9% drop in its share price. Tesla's first-quarter performance was hindered by higher interest rates, operational issues at its Berlin plant, Elon Musk's contentious social media presence, and increased competition in China's EV market. Analysts expected Tesla to surpass its sales from the prior year, yet the company's deliveries fell by 8.5%.
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