Tesla sales for the first three months of 2026 came in below Wall Street's expectations, as demand for EVs slowed. Elon Musk's automaker sold 358,023 EVs in the first quarter, up 6% from the same period last year.
Tesla just reported its vehicle production and deliveries for the first quarter of 2026. Analysts were expecting 370,000 deliveries, according to StreetAccount, while a Tesla-compiled consensus said analysts were expecting 365,645 deliveries.
Tesla sales were up 6.3% in the first quarter compared with a year prior, but the company missed Wall Street estimates for deliveries.
Tesla missed Wall Street expectations for first-quarter deliveries on Thursday, as the expiry of U.S. tax credits on the purchase of electric vehicles weighed on demand.
Wall Street forecasts for Tesla (NASDAQ: TSLA) by the end of 2026 have been somewhat mixed, with analysts highlighting some key concerns even as the automaker manages to deliver positive results.
Tesla reported rising sales of China-made electric vehicles, marking a second consecutive quarter of growth despite intensifying competition. Sales of Model 3 and Model Y vehicles produced at Tesla's Shanghai factory, including exports, rose 8.7% year-on-year to 85,670 units in March, according to data from the China Passenger Car Association.
Sales of Tesla's China-made electric vehicle grew 8.7% from a year earlier to 85,670 vehicles in March, extending gains for a fifth month, as the U.S. automaker navigated intensifying competition and increasingly pivoted beyond EVs.
Tesla (TSLA) closed the most recent trading day at $381.26, moving +2.56% from the previous trading session.
Tesla shares rose 2.6% to $381.52 in early trading on Wednesday, tracking a broader market rally. The S&P 500 advanced around 1%, while the Dow Jones Industrial Average gained 0.9%.
Tesla (NASDAQ:TSLA | TSLA Price Prediction) has been reframed by Elon Musk around a single idea: autonomous vehicles will generate more economic value than anything else Tesla has ever built.
Shares of Nio (NYSE:NIO | NIO Price Prediction), Li Auto (NASDAQ:LI), and Xpeng (NYSE:XPEV) are all trading higher Wednesday morning after each posted March delivery figures, while Tesla (NASDAQ:TSLA) ticks up modestly ahead of its own Q1 report.
Get them while stocks last: Elon Musk said that Tesla has stopped production of the Model S and X. The billionaire previously said the luxury models would be scrapped to make room for its robot, Optimus.