That was down more than 8% year-on-year and far fewer than analysts expected.
Shares fell more than 4% on the news.
Shares fell more than 4% on the news.
Tesla shares had already dropped over the last year, reflecting challenges as higher interest rates make its cars less affordable and rivals ramp up their own electric vehicle offerings.
The firm has cut prices repeatedly in response. But demand in key markets such as China has weakened nonetheless, as competitors such as BYD make gains.
Tesla’s problems worsened in the first three months of this year. Houthi attacks in the Red Sea caused supply disruptions which temporarily shut its factory in Germany which was later hit by an alleged arson attack.
Mr Ives said the figures suggested the first quarter had been a “train wreck into a brick wall” for the company, raising the pressure on Mr Musk.
Shares fell more than 4% on the news.
That was down more than 8% year-on-year and far fewer than analysts expected.
Tesla shares had already dropped over the last year, reflecting challenges as higher interest rates make its cars less affordable and rivals ramp up their own electric vehicle offerings.
Shares fell more than 4% on the news.
Shares fell more than 4% on the news.
Tesla shares had already dropped over the last year, reflecting challenges as higher interest rates make its cars less affordable and rivals ramp up their own electric vehicle offerings.
The firm has cut prices repeatedly in response. But demand in key markets such as China has weakened nonetheless, as competitors such as BYD make gains.
Tesla’s problems worsened in the first three months of this year. Houthi attacks in the Red Sea caused supply disruptions which temporarily shut its factory in Germany which was later hit by an alleged arson attack.
Mr Ives said the figures suggested the first quarter had been a “train wreck into a brick wall” for the company, raising the pressure on Mr Musk.
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