Tesla's First-Quarter Deliveries Plummet
- New-vehicle deliveries in the first quarter fell 31% from the previous three months
- Tesla had slashed the Model 3's starting price three times during the quarter, finally reaching its long-promised base of $35,000, suggesting that demand for more-expensive versions had plateaued.
- Tesla attributed the slowdown to challenges associated with taking the Model 3 overseas for the first time
- The company cautioned that first-quarter net income would be "negatively impacted" while saying it planned to end the quarter with "sufficient cash on hand."
- Tesla said it delivered 50,900 Model 3 cars in the first quarter, down 20% from 63,359 the preceding three months
- Sales of the more-expensive Model S car and Model X sport- utility vehicle collectively fell to 12,100 from 27,602 during the fourth quarter
Does
NOT look good.
My delivery number was 52k for the M3. So, my estimate was inline with 50.9k
I expect
tsla to retrace all of its gains the last 5 trading days.
Looking at $270 SP tomorrow.