Like all public companies, Tesla reports quarterly revenue and delivery numbers, but despite expectations of a poor showing, the automaker’s first-quarter stats are worse than expected. It saw a 13 percent drop in vehicle deliveries from 2024’s numbers, and that follows one of the worst quarters the company’s stock has ever seen.
Tesla delivered 336,681 cars in the first quarter against projections of between 360,000 to 370,000 units. That’s down from more than 386,000 deliveries in the first quarter of 2024 and has led many to question the automaker’s path forward.
Weedbush Securities analyst Dan Ives said that Tesla’s earnings report were a “fork in the road moment.” Ives noted, “We knew 1Q Tesla deliveries would be soft, but these numbers were bad. We are not going to look at these numbers with rose-colored glasses… they were a disaster on every metric.”
Tesla is facing competition in the EV market like never before, but its CEO has received most of the blame for its middling performance. Elon Musk’s efforts to reshape the U.S. federal government and his close association with President Trump have led to protests and vandalism of Tesla property around the world.
While Tesla doesn’t break out regional sales numbers, the automaker has seen declining market share across Europe. The souring relations between Canada and the U.S. promise to cause further headaches, as Tesla will be excluded from EV incentives in some provinces.
[Images: Tesla]
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