Tesla sales declined sharply in early 2019 compared to the end of last year, with just 63,000 cars delivered — well below analyst forecasts.
A security guard moves past a Tesla charging station in Beijing, China, on April 14, 2017.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.Tesla sales declined sharply in early 2019 compared to the end of last year, with just 63,000 cars delivered — well below analyst forecasts of 76,000 deliveries. Stock sank by as much as 10 percent in premarket trading as investors responded to the missed target.
Any slowdown in sales raises concerns about the sustainability of demand for the Model 3 sedan, Tesla’s first mainstream offering. The company is hoping to give itself a boost by adding the new Model Y crossover, but that vehicle won’t reach the public until next year, about the same time as an assortment of all-electric models from competitors like Audi and Volkswagen also go on sale.
After working through its production problems at the Fremont plant, Tesla delivered consecutive quarterly profits during the last half of 2018. Musk had initially anticipated more black ink for the first quarter of 2019, but since reversed himself.
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