Tesla reports 336,000 vehicle deliveries in first quarter, 13% drop from a year ago
CNBC2 days
Tesla's sales decline primarily stems from necessary production line updates for the new Model Y refresh and increasing global competition, particularly from Chinese manufacturers like BYD. The temporary production halts and transition period are normal parts of introducing updated models, and sales should recover as production ramps up.
The dramatic sales decline reflects severe brand damage caused by Elon Musk's political activities and controversial leadership of DOGE, turning away core environmentally conscious customers. The protests and boycotts against Tesla facilities worldwide have created a significant negative impact on consumer sentiment and sales performance for the once-trailblazing leader in the EV industry.