Tesla Stock Drops 3.2% Following Miss on Q1 Deliveries; Production Concerns Emerge
โข Tesla's stock fell 3.2% on April 26 after the company reported first-quarter global deliveries of 389,000 vehicles, missing consensus expectations of 410,000 units and marking the weakest quarterly performance in two years. โข Management attributed the shortfall to supply chain disruptions at the Berlin and Texas Gigafactories, as well as slower-than-anticipated demand in European and Chinese markets, particularly for the Model 3 and Model Y lineup. โข The miss reignites concerns about Tesla's ability to sustain its 50% annual growth target and prompted three major brokerages to lower 2026 earnings forecasts by 8โ12%, citing heightened competition from legacy automakers' EV offerings.
wsj.com