On average, analysts surveyed by Bloomberg estimate that Tesla delivered 453,964 vehicles in the quarter which is down more than 6% from the company’s record showing in the fourth quarter.
Brand new Tesla cars sit parked at a Tesla dealership on Oct. 18, 2023, in Corte Madera, California. Price cuts, free Supercharging and $1,000 incentives have been used to entice car shoppers. Tesla Inc. may be headed for a gloomy milestone as waning demand for electric vehicles and elevated interest rates take a toll on sales.
Elon Musk may not have helped matters in the final week of March. The chief executive officer imposed a new directive that he acknowledged would slow the sales process, requiring that every customer in North America be taken for short drives to test out the driver-assistance feature Tesla misleadingly markets as Full Self-Driving.
With that next-gen car a ways off, some analysts fear that Tesla’s outlook for a “notably lower” growth rate this year may actually manifest in no growth at all in the first quarter. The company suffered several setbacks in the quarter, including multiple shutdowns of its plant outside Berlin. It also changed over its factory in California to make an upgraded version of the Model 3, which tends to slow output.
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