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Tesla sales fall for first time in four years

Tesla experienced a decline in annual sales for the first time since the beginning of the COVID-19 pandemic.

This was reported by Bloomberg, according to a report from Ukrinform.

“Tesla shares fell 4.9% in New York on Tuesday… the second-worst performance for the S&P 500,” the report said.

According to analysts’ estimates, the company was supposed to deliver approximately 449,000 cars in the first quarter of 2024. But actual deliveries were 14% lower; During this period, Tesla delivered 386,810 cars.

Tesla hasn’t delivered fewer cars per quarter since 2020 than in the same period last year, and it hasn’t delivered fewer than 400,000 cars per quarter since a third of 2022.

Tesla blamed the decline in part on a switch to an updated version of the Model 3 sedan; this version, along with the Model Y SUV, accounted for 96% of deliveries in the quarter. The company also mentioned supply issues related to the situation in the Red Sea and the temporary halt of production at a facility in Germany.

As reported by Ukrinform, the Tesla company has increased the price of Model Y electric cars in the US by $1,000 since April 1.

Source: Ukrinform

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