Posted 4/2/2024, 8:05:13 PM
Tesla Misses Q1 Delivery Targets, Posts First Annual Drop Since 2020
- Tesla missed Q1 delivery estimates significantly, reporting 386,810 deliveries vs expectations of 449,080
- Q1 deliveries dropped sequentially from Q4 2022 and declined year-over-year, the first annual decline since 2020
- TSLA stock fell nearly 5% on Tuesday following the delivery miss
- Model 3/Y production was 412,376, below estimates; deliveries totaled 369,783
- Tesla raised prices in the US and China which could negatively impact ASPs and demand