Tesla Q1 sales dropped 9%, its steepest decline in four years, due to decreased EV demand and increased competition.

Tesla sales dropped 9% in Q1, the most significant decrease in four years, as EV demand slows and competition intensifies. The automaker has responded by cutting prices, but this has squeezed profit margins and supports for its lofty stock price. Tesla anticipates "notably lower" sales growth in 2023, positioned between growth waves from the Models 3 and Y and the yet-to-be-released Model 2.

April 02, 2024
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