Tesla stock drops as Q1 deliveries miss Wall Street estimates

Wed, Apr 2, 2025, 6:14 AM 1 min read

Tesla (TSLA) reported first quarter global deliveries that widely missed estimates, as demand issues clearly hit the EV-maker.

For the quarter, Tesla reported 336,681 deliveries vs. 390,342 estimated, per Bloomberg consensus. Tesla also said it produced 362,615 units globally for the quarter and deployed 10.4 GWh of energy storage products.

"While the changeover of Model Y lines across all four of our factories led to the loss of several weeks of production in Q1, the ramp of the New Model Y continues to go well," Tesla said in a statement. The refreshed Model Y went on sale globally in March, with some analysts citing the changeover as a reason for depressed demand for its top selling vehicle.

Tesla shares dropped nearly 5% in pre-market trading.

Tesla sales have been stalling across most of its global territories. Earlier this week, Tesla registration data in key European regions fell in March, another sign that sales are continuing to slide in one of its key markets.

In France, only 3,157 Tesla EVs were registered in the country, down 36.8% from a year ago, per official data cited by Reuters. Norway saw only 2,211 registrations, down 63.9%. Sweden’s tally of 911 was only down 1%.

Tesla’s registrations are a close proxy for sales, which the company only reports quarterly and does not break out by region.

Also in Scandinavia, usually a stronghold of EV sales, Denmark's Tesla registrations dropped to 593, down 65.6%, and the Netherlands saw 1,536, a drop of 61% compared to last year.

Tesla also said it would report first quarter earnings on Tuesday, April 22nd.

This story is developing.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram.

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