The electric car manufacturer delivered 386,810 vehicles in the first three months of 2024.
Tesla Inc. suffered its first year-over-year sales decline since the early days of the COVID-19 pandemic. The electric car manufacturer delivered 386,810 vehicles in the first three months of 2024, as reported by the company in a statement this Tuesday, April 2. This figure was so lower than analysts’ average estimate of 449,080 deliveries which represented its biggest historical loss.
Tesla: how much its shares have fallen so far this year
Tesla shares fell 5.5% to $165.54 in New York. The value has fallen about 33% this year. Wall Street had quickly downgraded the Austin-based company’s delivery forecasts as the first quarter drew to a close, including some analysts who correctly predicted the tally would be lower than the 422,875 deliveries a year ago.
tesla noted the early production ramp of its updated Model 3 as a factor for the decrease in volume. He also cited “Transport diversions caused by the Red Sea conflict” and an arson attack in his factory Berlin.
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Tesla: consumer demand falls
The biggest concern was consumer demand. High interest rates have kept some buyers on the sidelines, and Tesla warned investors that it is “between two waves of growth.” In February, its CEO, Elon Muskpublished that “Most people don’t like buying cars in the middle of winter.” while offering a $1,000 incentive. tesla It has also started experimenting with advertising and has done more to inform consumers about its range.
tesla does not break down quarterly vehicle sales by region, but USA and China They have long been its largest markets. The company manufactures the Model S, x, 3 and AND in Fremont, Californiaand the Model 3 and AND in Shanghai. It also produces the Model Y in their plants austin and the outskirts of Berlin. The sport utility Model Y and the saloon Model 3 They represented the 96% of deliveries in the fourth quarter.
tesla expanded its offering at the end of last year with the introduction in USA of the Cybertruck covered in stainless steel. The company did not break down how many Cybertrucks produced and delivered.
Despite the challenges, tesla has managed to regain his title largest seller of electric vehicles in the world after having been surpassed by the china BYD Co. at the end of last year. In the first trimester, BYD sold 300,114 electric vehicles battery worldwide, the automaker reported Monday. Including hybrids and other new energy cars, the company China sold 626,263 units during the period.
Source: Ambito
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