Tesla reported a significant decline in vehicle deliveries, with a drop of approximately 13% year-over-year in the first quarter of 2025. The company produced over 362,000 vehicles and managed to deliver over 336,000 units, a stark contrast to the same period in the previous year when it delivered close to 387,000 vehicles following the production of over 433,000. This disappointing performance comes at a challenging time as the company grapples with increasing competition in the electric vehicle market and growing criticism aimed at CEO Elon Musk.
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The backlash against Musk has manifested in various forms, including nationwide protests targeting Tesla dealerships and incidents of vandalism against its vehicles. These actions were highlighted during "Tesla Takedowns," where demonstrators voiced their frustrations with the company and its CEO's controversial political affiliations, particularly his role in Washington alongside President Donald Trump. Following the release of the lower delivery numbers, Tesla's stock experienced a nearly 3% decline in early trading but rebounded by about 5% later in the day after reports suggested Musk might soon step away from his governmental role.
Prominent industry analyst Dan Ives from Wedbush expressed his discontent regarding Tesla's performance, describing the delivery results as disappointing across every metric. He stated that "it's a fork in the road moment" for Musk. Meanwhile, Tesla has attributed some of the decline to a "changeover of Model Y lines" across its four factories, which led to production disruptions. Despite these challenges, the company reassured stakeholders that the ramp-up of the new Model Y remained on track, thanking its customers, employees, suppliers, and shareholders for their support amidst a tumultuous quarter.
Source: abcnews / Pic: odd andersen/Agence France-Presse/Getty Images
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