Overview
- Tesla, which reported first‑quarter figures Thursday, said deliveries rose 6% year over year to 358,023, below the roughly 370,000 analysts expected.
- Production increased 12.6% to 408,386 vehicles, creating a gap with deliveries that points to slower sell‑through or growing inventory.
- The stock fell about 4% in early trading, and despite a market value near $1.2 trillion it is down almost 20% this year.
- U.S. demand has been hurt by the end of a federal tax credit of up to $7,500 in September 2025 and by protests tied to Elon Musk’s political role and statements.
- Europe shows early signs of recovery with EU registrations up about 16.7% in January and February, even as Tesla leans on aging core models and talks up robotaxis and humanoid robots after launching lower‑priced Model 3 and Model Y variants.