Tesla’s first quarter sales showed a 6.3% increase compared to last year, though the carmaker missed Wall Street’s expectations. This follows a period where the company struggled to navigate a challenging electric vehicle market and turn around its core business.
Recent data indicates sales of Tesla vehicles have risen in the last three months, potentially signaling a recovery after a difficult year marked by boycotts. Despite this, deliveries remain below anticipated levels.
Notably, Tesla’s China-made electric vehicle sales have increased for the second consecutive quarter, maintaining momentum amidst growing competition. The company has also been broadening its focus beyond solely electric vehicles.
However, overall deliveries in the first quarter were only 6% higher than the previous year, and Tesla is facing the possibility of a third consecutive year of declining sales.