First-quarter Tesla deliveries drop 8.5% to 386,810 units
Tesla’s delivery figure is well below the average of about 430,000 that analysts had forecast.
Tesla provided statistics on Tuesday that shows that, compared to the same period in 2023, the company delivered 386,810 vehicles in the first quarter of 2024, an 8.5% decrease.
The number of deliveries is far less than the 430,000 average that experts were predicting for the first three months of the year.
Tesla shares fell 7.35 percent after the report was released, even before North American markets opened.
The company’s shares had already dropped 29% in the first quarter of 2024—the worst decline since the end of 2022.
Additionally, Tesla said that 412,376 of the 433,371 vehicles it manufactured in the first quarter were Model 3 and Model Y automobiles.
The number of Model S, Model X, and Cybertruck automobiles produced was not disclosed by the business. 440,808 units were manufactured by the business during the same time in 2023.
