Tesla (TSLA.US) reported today Q1 deliveries number which came in much lower than anticipated numbers on Wall Street. Deliveries came in at 336,681 vs 408,000 exp. by FactSet analysts, falling 13% on a yearly basis. Those are the lowest number in 2 years.Total production came in at 362,615 cars, down due to Tesla Y production line changes.
- European sales of Tesla's tumbled 49% YoY, despite EVs European 28% sales growth reported by European Automobile Manufacturer’s Association.
- This may be signal that Tesla is losing its market share in Europe, fighting also with rising competitors from China. In February, Tesla sales in Germany came i down 76% to just 1,429 units compared to 6,038 a year ago.
- Also, PFA reported 3,159 Tesla deliveries last month in France; down 37% from March 2024 and down 41% QoQ. Also, in Sweden Tesla sales fell 64% YoY.
- In China, Tesla sold 78,828 EVs in March, down more than 11.5 YoY, according to data from the China Passenger Car Association. On the other hand, the number is much higher than February 30,688 sales on the Chinese market.
Today US indices try to rebound just after the market open, but Tesla dips almost 5% and is one of the weaker US large-caps.
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Source: xStation5
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