Tesla Shares Fell Nearly 9 Percent in First Quarter as Demands for EVs Slows

Sales fell by nearly 9 percent in the first quarter, marking the automaker’s first year-over-year decline in quarterly deliveries since 2020.
Tesla Shares Fell Nearly 9 Percent in First Quarter as Demands for EVs Slows
A Tesla vehicles charge in Woodstock, Ga., on Sept. 27, 2023. Mike Stewart/AP Photo
Jana J. Pruet
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Tesla sales fell sharply in the first quarter, marking the automaker’s first year-over-year decline in quarterly deliveries since 2020 and fueling Wall Street’s concerns over the company’s growth expectations this year.

The Elon Musk electric vehicle (EV) manufacturer on Tuesday said it delivered 386,810 vehicles from January through March, down 8.5 percent from the 423,000 it sold during the same period last year. FactSet analysts expected the Austin, Texas-based company to deliver 457,000 vehicles.

Jana J. Pruet
Jana J. Pruet
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Jana J. Pruet is an award-winning investigative journalist. She covers news in Texas with a focus on politics, energy, and crime. She has reported for many media outlets over the years, including Reuters, The Dallas Morning News, and TheBlaze, among others. She has a journalism degree from Southern Methodist University. Send your story ideas to: [email protected]
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