Tesla (TSLA) shares fell Wednesday after the electric vehicle maker's first-quarter deliveries came in below analysts' expectations.
[00:00:04] Doug McIntyre: So Lee, uh, president Trump, 25% tariffs all cars and car parts coming into the United States.
Tesla recorded 336,681 deliveries, its worst quarterly performance in more than two years as the brand suffers a backlash to CEO Elon Musk's political maneuverings.
First-quarter Tesla deliveries were below sharply lowered views. It was the worst quarterly performance in over two years.
Shares of Tesla Inc. TSLA dove 4.1% in premarket trading Wednesday, after the electric vehicle giant reported first-quarter deliveries that were well below recently lowered expectations.
Tesla reported a drop in vehicle deliveries for the first quarter from a year earlier. The deliveries and production report lands two days after Tesla's stock wrapped up its worst quarter since 2022.
Tesla disclosed Wednesday the most tangible data point yet showing the impact to its business from the polarizing activities of its chief executive officer and largest shareholder Elon Musk, whose close relationship with President Donald Trump led many on Wall Street to warn about “woes” for the electric vehicle maker.
Tesla sold 78,828 electric vehicles in China in March, down 11.5% year-on-year, according to data from the China Passenger Car Association (CPCA) released on Wednesday. The U.S. carmaker is facing a number of headwinds in China, in particular mounting challenges from local rivals, which, in contrast to Tesla, saw growth.
Tesla, Inc. (NASDAQ: TSLA) found itself on the wrong side of a historic surge in U.S. auto sales last month, with March vehicle sales slipping 8% year-over-year despite a broader industry boom.
U.S. stock futures were lower this morning, with the Dow futures falling more than 50 points on Wednesday.
Tesla Inc. TSLA short interest has increased by over 21% during its current reporting period, making it the fourth most shorted stock in the U.S. market currently.
U.S. automaker Tesla sold 78,828 China-made electric vehicles in March, down 11.5% from a year earlier, data from the China Passenger Car Association (CPCA) showed on Wednesday.