Tesla Shares Fell Nearly 9 Percent in First Quarter as Demands for EVs Slows

Tesla sales fell strongly in the first quarter, marking the company’s primary year- over- season decline in weekly deliveries since 2020 and fueling Wall Street’s concerns over the company’s growth expectations this year.
The Elon Musk electric vehicle ( EV ) manufacturer reported on Tuesday that it delivered 386, 810 vehicles between January and March, a 9.5 % decrease from the 423, 000 it sold during the same time last year. Intraday experts expected the Austin, Texas- based business to provide 457, 000 cars.
The company’s reports comes amid increased competition globe, slower electric vehicle desire, and lower rates that failed to attract more customers.
Tesla attributed its lower sales to cutting out the updated Model 3 sedan from its Fremont, California factory, grow shutdowns caused by shipping diversions in the Red Sea, and a alleged arson attack that caused the European factory to shut down energy.

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