Tesla Just Got Some Absolutely Horrible News

Elon Musk's Tesla has posted its first-quarter deliveries — and the numbers are even worse than analysts feared. The carmaker said it delivered 336,681 vehicles for the January-March period, a massive 13 drop from 386,810 cars over the same period last year. It's a rout, in other words, showing that rapidly growing competition and an international movement opposing Musk's politics are exerting considerable pressure on the once-ascendant electric carmaker. Sales haven't been this low since the second quarter of 2022, as Bloomberg reports. The company's shares slid by around five percent when markets opened on Wednesday. As Reuters reports, the Q1 numbers are even worse than the average estimates of 15 analysts from the firm Visible Alpha, who forecasted the company would report 372,410 vehicles delivered. Estimates compiled by Bloomberg expected Tesla to sell more than 390,000 cars and trucks. The EV maker is already in dire straits, with sales in Europe and many other parts of the ... Read full article.