Tesla's First-Quarter Deliveries Fall Short of Expectations

Tesla missed Wall Street expectations for its first-quarter vehicle deliveries, reporting a total of 358,023 units. This marked a 14.4% decrease from the previous quarter but a 6.3% increase from the same period last year. The expiry of U.S. tax credits affected demand.

Tesla reported lower-than-expected vehicle deliveries for the first quarter, failing to meet Wall Street projections. The automaker delivered 358,023 vehicles, marking a 14.4% decline from the fourth quarter but a 6.3% increase compared to the same period in the previous year.

This shortfall came as U.S. tax credits for electric vehicle purchases expired, reducing consumer demand and impacting Tesla's delivery figures.

According to data from Visible Alpha, analysts had anticipated deliveries of 368,903 vehicles on average, highlighting the significant gap between expectations and reality.

(With inputs from agencies.)