Tesla: deliveries down 8% in Q1

(CercleFinance.com) - Tesla announced on Tuesday that it had delivered some 387,000 vehicles in the first quarter, down 8% year-on-year, causing its share price to fall sharply.


This morning, the US group reported 386,810 deliveries in the first three months of the year, compared with 422,875 units in the same period of 2023.

In this period, the car maker produced 433,371 vehicles, almost 2% less than the 440,808 produced in Q1 2023 (440,808).

Tesla attributes this downturn to efforts to launch production of its new Model 3 in Fremont (California) and to site closures due to supply problems linked to tensions in the Red Sea and the arson attack on its Berlin 'Gigafactory'.

At Tesla's last results presentation, at the end of January, Elon Musk, its whimsical boss, warned that the company was between two waves of growth, in other words, at the bottom of the wave.

It remains to be seen whether the flood of Chinese vehicles can sweep away the craze for this disrupter, or whether dykes will be erected to protect the US nugget, analysts at LFDE wonder.

Following today's figures, Tesla shares fell by more than 6% on Tuesday morning on the New York Stock Exchange, bringing their year-to-date decline to almost 34%.

The company is set to publish its Q1 results on Thursday 23 April.


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