Tesla stock slides 7% after big 1st-quarter delivery miss

Tesla cars
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  • Tesla stock fell as much as 7% on Tuesday after reporting first-quarter deliveries that fell far short of expectations.

  • Tesla said it delivered 386,810 vehicles in the first quarter, well below the consensus Wall Street forecast of nearly 450,000.

  • Wedbush analyst Dan Ives said factory shutdowns in Germany and soft demand in China contributed to the miss.

Tesla stock dropped as much as 7% on Tuesday after the company reported weaker than expected vehicle deliveries for the first quarter.

Tesla delivered 386,810 vehicles in the first quarter, which was well below Wall Street estimates of 449,080, according to data from Bloomberg. The decline represented Tesla's first year-over-year sales drop since the start of the COVID-19 pandemic in 2020.


The first quarter results represent a year-over-year decline of 9% and a 20% decline from its recent fourth quarter vehicle sales of 484,507.

Expectations for Tesla's vehicle deliveries were already declining heading into the report, as concerns have grown surrounding weak demand in China, factory shutdowns in Germany, and soaring demand for one of Tesla's biggest competitors: plug-in hybrids.