Tesla’s Q1 Numbers Were Way Worse Than Expected

Tesla’s Q1 Numbers Were Way Worse Than Expected

There’s been a lot of talk about Tesla lately, but it has mostly been focused on the Cybertruck. The conversation hasn’t always been positive, but hey, at least people have been talking about Tesla. And all coverage is good for the company, right? Not necessarily. Tesla released its results for the first quarter of 2024 today, and, well, let’s just say it’s probably safe to assume that Elon Musk is having a terrible, horrible, no good, very bad day.

In total, Tesla produced 433,371 vehicles in Q1 and delivered 386,810 of them. Sales of the Model 3 and Model Y accounted for 412,376 vehicles and 369,783 deliveries. So while we don’t know exact sales figures for the Model S, Model X and Cybertruck, we do know that all three combined for only 20,995 vehicles and 17,027 deliveries.

Last year for Q1, Tesla produced a total of 440,808 vehicles and delivered 422,875. Totals aren’t just down year-over-year, though. They’re also down from Q4 2023, when Tesla produced 494,989 vehicles and delivered 484,507. Understandably, investors have not been happy to see Tesla sales down so significantly compared to the previous quarter as well as the previous year, causing the stock price to dive.

The most likely explanation for the drop in interest appears to be Tesla CEO Elon Musk’s personal behavior. For years, Tesla has been Elon Musk and Elon Musk has been Tesla, so now that he’s gone all-in on expressing his bigoted far-right beliefs, many potential Tesla customers are deciding to buy other automakers’ electric vehicles instead. Even some current Tesla owners are buying EVs from other brands.

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