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Teslajust turned in one of its more disappointing first quarters for deliveries in a while , and the company is put some of the blame on anarson attack at its factoryin Germany and shipping disruptions triggered by Houthi fire in the Red Sea .
Teslasaid Tuesdaythat it deliver 386,810 vehicles in the first quarter of 2024 , down 20 % from the 484,507 it delivered in the concluding after part of 2023 . Crucially , Tesla shipped few cars than it did in the first quarter of 2023 , meaning this was the first class - over - year drib in sales in three years .
output was also down year - over - year , which Tesla attributed to switching tomaking the new Model 3 , as well as the other disturbance . The arson attack shut down the Germany factory fornearly a hebdomad , and Tesla suspended production there for two weeks inJanuarydue to the problems in the Red Sea . The company ’s stock pass more than 6 % in early trading .
These drops come just two calendar month after Tesla admonish that sales increase could be “ notably scummy ” in 2024 as it comes off a successful 2023fueled by price cuts . The company claimed in January that it is “ between two major growth waves ” as it tries to ramp up output of the Cybertruck . It also has a low - price EV in the work , though plans for that have already shift , and the company has pronounce it is trying tocreate an all - new manufacturing processto get costs lower .
The company is facing increasing competition in China , too , where caller big and small are inundate the food market with low - cost EVs . Bloomberg Newsreported last monththat Tesla curtail yield at its Shanghai factory as a outcome of ho-hum sales growth in the rural area .
Tesla essay to pull a few conjuring trick at the destruction of the quarter to boost sale , as it usually does . The companionship promoted aone - calendar month loose trialof its advanced gadget driver assistance package ( which it calls Full Self - Driving , even though it does not make the cars sovereign ) . It also teased through much of March that it was hike prices starting April 1 .
This story has been update to include more info about Tesla ’s factory shutdowns .
