Tesla Stock Price Falls After Q1 Vehicle Delivery Miss, Misses Expectations

The article discusses Tesla’s disappointing first-quarter vehicle delivery numbers, which fell short of analysts’ expectations. Tesla delivered 422,875 vehicles in Q1, missing the consensus estimate of 429,317 units. The company cited supply chain issues and the impact of the COVID-19 pandemic as reasons for the miss. Despite the delivery miss, Tesla’s Q1 production of 440,808 vehicles set a new record for the company. However, the delivery miss raised concerns about Tesla’s ability to meet its goal of increasing deliveries by 50% annually. The article also mentions that Tesla’s stock price fell by around 5% in pre-market trading following the delivery report. Overall, the article highlights the challenges Tesla faces in meeting its ambitious growth targets amidst supply chain constraints and economic uncertainties.

Source: https://markets.businessinsider.com/news/stocks/tesla-stock-price-q1-vehicle-delivery-miss-expectations-tsla-musk-2024-4