News on Medial

Tesla’s first-quarter vehicle sales fell as EV market cools

LivemintLivemint · 8m
Tesla’s first-quarter vehicle sales fell as EV market cools

Tesla reported its first year-over-year decline in quarterly deliveries since 2020, delivering 386,810 vehicles globally in Q1 2024, down 8.5% from the previous year. This is the lowest quarterly performance for Tesla since Q3 2022. Despite the decline, Tesla regained its position as the world's top EV seller on a quarterly basis. However, the result highlights concerns about the broader electric-vehicle market, as growth slows and consumer enthusiasm for electric vehicles wanes. Tesla's stock fell about 6% in premarket trading and is down nearly 30% this year. The decline is partly attributed to production setbacks, including supply chain disruptions and an arson attack on the grid supplying power to the factory.

Comments

Download the medial app to read full posts, comements and news.