Tesla sales falter as the US electric vehicle market cools off
Newsy
Tesla said it delivered more than 386,000 vehicles from January to March, a decline from the 423,000 it sold in the same time period last year.
Sales of Tesla vehicles dropped nearly 9% last quarter thanks to increased competition and an overall slowdown in electric vehicle sales.
Tesla said it delivered more than 386,000 vehicles from January to March, a decline from the 423,000 it sold in the same time period last year.
Analysts had expected sales around 457,000.
Tesla said shipping delays and a reworked Model 3 contributed to its slowdown. Analysts said the company's incentives and discounts weren't doing enough to keep demand for its vehicles growing.
Tesla made price cuts of as much as $20,000 for certain vehicle models last year, and in March of this year announced a short-term $1,000 discount on its most popular Model Y. Together, the cuts reduced Tesla's profit margins.
