Tesla has reported its worst sales quarter since 2022, with vehicle sales dropping 13% to 336,681 in the first quarter of this year. The electric vehicle giant’s production numbers also fell significantly, with 362,615 EVs produced compared to 433,371 in the same period last year.
Despite the disappointing sales and production figures, Tesla’s stock rebounded, closing up 5.3% on Wednesday. Analysts speculate that investor optimism may be driven by future growth expectations or confidence in Tesla’s long-term strategy despite the short-term decline.
This latest report highlights challenges the automaker faces as it navigates fluctuating demand and production constraints, raising questions about how Tesla will address these issues in the future.