Tesla Sales Drop More Than Expected

Video Credit: Wibbitz Top Stories
Published on April 2, 2024 - Duration: 01:30s

Tesla Sales Drop More Than Expected

Tesla Sales Drop , More Than Expected.

The automaker has posted its first yearly drop in sales since the onset of the pandemic, CNN reports.

.

The company reportedly built 433,000 units but only delivered 387,000.

That's significantly less than the 484,507 vehicles it delivered in the last three months of 2023.

Tesla shares fell 5% on April 1.

.

Tesla partially attributed the sales drop to increased production of the updated Model 3 at its factory in Fremont.

The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.

The company also cited factory shutdowns caused by ships being diverted from the Red Sea because of attacks by Iran-backed Houthi militants, CNN reports.

Additionally, its factory in Germany shut down for a week because of an arson attack.

.

Increased competition from brands such as China's BYD have also impacted sales, CNN reports.

.

Increased competition from brands such as China's BYD have also impacted sales, CNN reports.

.

Wedbush Securities analyst Dan Ives referred to Tesla demand in China as "very soft coming out of the gates for 2024.".

While we were anticipating a bad first quarter, this was an unmitigated disaster that is hard to explain away, Wedbush Securities analyst Dan Ives, via note to clients.

We view this as a seminal moment in the Tesla story for Musk to either turn this around and reverse the black eye first quarter performance.

, Wedbush Securities analyst Dan Ives, via note to clients.

Otherwise, some darker days could clearly be ahead that could disrupt the long-term Tesla narrative, Wedbush Securities analyst Dan Ives, via note to clients


You are here


💡 newsR Knowledge: Other News Mentions

Tesla, Inc.

American electric vehicle and clean energy company
Kim Kardashian’s got a new boo... and he’s fully charged -- her brand new $30K Tesla robot took the spotlight as they posed away in a wildly bizarre photo..
Credit: TMZ.com - Published 2 days ago

Kim Kardashian has turned to technology for companionship ... the reality TV star has gotten her hands on her very own Tesla robot. Check it out ... the SKIMS..
Credit: TMZ.com - Published 4 days ago

Kim Kardashian hasn't learned her lesson about her tricked-out vehicles ... the SKIMS founder has been hit with a fix-it ticket while cruising on PCH. Law..
Credit: TMZ.com - Published 1 week ago




Germany

Country in Central Europe
Prime Minister Narendra Modi addressed the News9 Global Summit, emphasizing the significance of the 25-year India-Germany strategic partnership. He highlighted..
Credit: IndiaTimes - Published 30 minutes ago

An OnlyFans model in Germany wants to make history with Elon Musk ... by giving birth to the first baby on Mars. Elsa Thora tells TMZ ... she wants to get..
Credit: TMZ.com - Published 21 hours ago

Defending men's champions Scotland beat Germany and the Czech Republic to reach the semi-finals of the European Curling Championships.
2 days ago • BBC Sport

Elon Musk

South African-born businessman (born 1971)
Elon Musk took a shot at Jeff Bezos, calling him out for supposedly predicting -- wrongly, we may add -- that Donald Trump would lose the presidential election..
Credit: TMZ.com - Published 1 day ago

It's happening -- just like we predicted -- Donald Trump's "Presidential" motorcade now includes a Cybertruck!!! As Trump made his way to watch the launch of..
Credit: TMZ.com - Published 2 days ago

You might like