With the fewest deliveries since 2022, Tesla is a “disaster.”

In the first three months of the year, Elon Musk’s Tesla saw a dramatic decline in deliveries as the electric vehicle manufacturer dealt with a fire at its European facility, problems with international shipping, and other issues.

With the fewest deliveries since 2022, Tesla is a "disaster."
With the fewest deliveries since 2022, Tesla is a “disaster.”
Less than 387,000 electric cars were delivered to customers by the corporation, which is the lowest quarterly total in more than a year.

That was far less than analysts had predicted and down more than 8% year over year.

The announcement caused shares to drop by more than 4%.

Dan Ives, an analyst at Wedbush Securities, called the update an “unmitigated disaster… that is hard to explain away.”.

Over the past year, Tesla’s shares have already decreased, indicating difficulties as competitors increase their own electric vehicle offerings and increased borrowing rates make the company’s cars less accessible.

In response, the company has frequently lowered pricing. However, despite this, demand has decreased in important regions like China as rivals like BYD gain ground.

Throughout the first three months of this year, Tesla’s issues grew worse. Due to supply delays brought on by Houthi strikes in the Red Sea, German manufacturing was temporarily shut down. The factory was later the target of an arson attack.

According to Mr. Ives, the data indicated that the company had experienced a “train wreck into a brick wall” in the first quarter, intensifying pressure on Mr. Musk.

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