Investing.com -- Tesla shares fell more than 4% premarket on Wednesday after the company reported first-quarter vehicle deliveries that came in well below expectations.
The electric vehicle maker delivered 336,681 vehicles in the first quarter of 2025, missing the Bloomberg print forecast of 390,000. Production totaled 362,615 units for the quarter.
Tesla (NASDAQ:TSLA) attributed the shortfall to manufacturing disruptions related to its Model Y refresh. “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,” the company said in a press release.
Deliveries of the Model 3 and Model Y, which make up the bulk of Tesla’s sales, reached 323,800 units, while other models, including the Model S and Model X, accounted for 12,881 deliveries.
The weaker-than-expected numbers come as Tesla faces increasing backlash against CEO Elon Musk's politics, exacerbating weakening demand for the company’s vehicles.
The company will report full first-quarter financial results on April 22.
"Since expectations were extremely low for Q1, the 336.6K number isn’t shockingly bad, but it’s still pretty grim, especially since the main headwinds facing Tesla’s auto business remain in place: slumping demand in major markets (owing to heightened competition, consumer macro pressures, and Musk’s political activities), trade tensions (Tesla faces auto part tariff risks and retaliation exposure), and innovation," analysts at Vital Knowledge said in reaction to the report.
