Tesla’s quarterly sales decreased for the first time since 2020 – Kommersant

American electric vehicle manufacturer Tesla reported on production and sales results for the first quarter. Over three months, the company produced a total of 433.4 thousand cars and delivered 386.8 thousand cars to customers. The vast majority of production and deliveries came from Model Y crossovers and Model 3 sedans.

For the first time since 2020, Tesla showed a decline in both quarterly production (down 1.6% compared to the first quarter of 2023) and sales (down 8.5% compared to the first quarter of 2023). The company explained the reduction in production and deliveries by problems with logistics (in winter, the Tesla plant in Germany was stopped for two weeks due to delays in components amid Houthi attacks in the Red Sea), as well as an update to the Model 3 lineup for the United States, which made it necessary to make interruption in the operation of the conveyor and the loading of vehicles. The stock market reacted to Tesla’s first decline in sales in four years by reducing the value of its shares – in the first hours of trading, quotes dropped by 5.5%.

Tesla will publish full financial statements for the first quarter on April 23.

Evgeny Khvostik