The U.S. firm reported a loss of $702 million on an adjested basis for the first three months of the year.
Tesla's Model S and X cars are reaching the end of their product life cycle and will need a serious upgrade if the company wants to retain a luxury price tag, one auto analyst told CNBC.
The company blamed the dip on struggles to deliver its key Model 3 car to Europe and China, while demand slipped following the end of a tax credit for buyers in January. Tesla warned it will not return to profitability before the second half of this year. "If you claim that demand is huge and unlimited then the key question is, why do you lower your mix? Why do you lower your pricing?" Ellinghorst added.
"I mean the S and the X are quite advanced in any normal life cycle of a product so they would really need significant refresh in order to restore the pricing."
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