"Catastrophic Result": Tesla's Sales in Q1 2024

The American electric car company "Tesla" delivered fewer vehicles in the first quarter compared to the same period last year, and in amounts lower than market expectations, resulting in a "catastrophic" outcome that caused a "negative shock," according to industry specialists. The number of electric vehicles delivered by the group totaled 368,810 vehicles, compared to the expected 457,000 as per analysts' consensus. Production also decreased by 8.5%, reaching 433,371 vehicles. The group stated in a statement that "the decline in volumes is partly due to the initial production stages of the new Model 3 at our Fremont factory" in California. The group also attributed these results to delivery issues linked to the conflict in the Red Sea, amid missile attacks by the Houthis on vessels, and sabotage that paralyzed its factory in Germany for several days. A small group of far-left activists claimed responsibility for the fire that broke out in a power pole last March, which led to the closure of this factory near Berlin, the only production site for Tesla in Europe, for several days. Around 18:30 GMT on Tuesday, Tesla's shares lost 5.23% on the New York Stock Exchange.