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Tesla sales fell for the first time in four years

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The most recent sales decline occurred in 2020, when the COVID-19 pandemic forced Tesla to halt production.

American electric vehicle manufacturer Tesla experienced a year-over-year sales decline for the first time since the start of the COVID-19 pandemic. Bloomberg reported this.

On Tuesday, April 2, Tesla shares fell 4.9% in New York, the second-worst performance for the S&P 500.

Elon Musk’s company should deliver about 449 thousand cars in the first quarter of 2024. However, the actual delivery is 14% lower – during this period, Tesla delivered 386 thousand cars.

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

The decrease in the volume of production and sales at the company is explained by the transition to an updated version of the Model 3 sedan, supply problems related to the situation in the Red Sea and the temporary stoppage of production in Germany due to arson of the plant. .

We remind you that on March 5, unknown persons set fire to the power line supplying the Tesla plant near Berlin. Production was interrupted. The incident is being investigated as sabotage, arson and economic disruption.

As of March 6, Tesla’s capitalization fell by 2.3%, to $553 billion, which is why the company dropped to 11th place on the list of the most valuable companies in the United States.

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Source: korrespondent

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