Tesla Misses Quarterly Sales Expectations Amid Market Challenges

Tesla (TSLA.O) reported one of its weakest quarterly sales performances in recent years, failing to meet Wall Street expectations, according to Jin10. The company announced on Thursday that its global deliveries for the first quarter totaled 358,023 vehicles, falling short of analysts' median forecast of 372,160 vehicles, which had been revised downward in recent weeks. This marks the second consecutive quarter Tesla has not met expectations. Investors have largely overlooked Tesla's sales trends as CEO Elon Musk shifts focus to future business lines such as artificial intelligence, autonomous driving, and robotics. However, the traditional automotive business remains Tesla's primary source of cash. Following the release of the delivery data, Tesla's stock fell 4% in pre-market trading. As of Wednesday's close, the stock had declined 15% this year and was down 22% from its all-time high in December last year.