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Tesla (TSLA), shares of the electric car maker, fell on Wednesday after its first-quarter delivery figures came in below analyst expectations.
Tesla reported that it delivered 336.681 vehicles and manufactured 362.615 vehicles in the third quarter. This is down from 386.810 deliveries and 433.371 vehicles produced one year ago. Tesla said that production fell by a year as some facilities switched to producing the Model Y, which has been released earlier this year.
Visible Alpha reported that analysts had predicted 393,000 deliveries, and 462,160 vehicles to be produced. The estimates for deliveries have fallen by 14% in the time since Tesla’s fourth-quarter results were announced in January.
The shares of the EV manufacturer were down over 4% shortly after Wednesday’s market opening. They are up 50% from a year earlier, but have lost half their value after reaching a record high near $480 last December.
Last Quarter, Deliveries and Earnings fell short
Tesla’s fourth-quarter production and deliveries fell short of expectations, and the EV maker reported their first annual decline in deliveries. Tesla’s fourth-quarter deliveries and production fell short of estimates, with the EV maker reporting its first annual deliveries decline.
Tesla stock has fallen this year due to concerns that CEO Elon’s involvement with the Trump administration will negatively impact the company. Tesla’s most ardent supporters on Wall Street have urged Musk to divide his work time more evenly between Tesla and his government work.
Tesla dealerships were the target of protests and vandalism over the past few weeks. Reports indicate that sales and registrations in China and several countries in Europe have dropped in the first months of 2025.
Tesla announced that it would release its first quarter results after the bell of April 22.
This article is updated with the most recent share price information.
