Tesla's First Quarter Performance Sends Stock Tumbling
TL;DR Summary
Tesla's first-quarter vehicle production and deliveries report for 2024 showed an 8.5% drop in deliveries from the year-ago quarter, causing shares to fall 7% in premarket trading. The decline was attributed to production challenges, supply chain disruptions due to the Red Sea conflict and an arson attack at Gigafactory Berlin, as well as increased competition in China. The company also faced mixed reviews for its new Cybertruck and struggled to drive sales volume with discounts and incentives. Despite the challenges, Tesla is scheduled to discuss its quarterly results in an earnings call on April 23.
- Tesla shares drop 7% on first-quarter vehicle delivery and production report CNBC
- Tesla’s stock slumps as delivery numbers miss the mark by a wide margin MarketWatch
- Tesla (TSLA) releases Q1 2024 deliveries: disastrous results Electrek
- Tesla's Q1 to forget: Poor guidance, China woes, and Musk antics hit EV maker's stock hard Yahoo Finance
- Wall Street is getting nervous about Tesla Business Insider
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