3 Apr 2024

Tesla first quarter numbers worse than expected

From Morning Report, 6:49 am on 3 April 2024

Electric carmaker Tesla has released its first quarter vehicle production and deliveries report, and the numbers are worse than anticipated.

Deliveries fell 8.5 percent from this time last year, and about 20 percent from the end of 2023.

Meanwhile vehicle production declined 1.7 percent year on year.

The poor numbers set the stage for what analysts expect to be the company's weakest year of growth since at least 2012.

Wedbush Securities Analyst Dan Ives spoke to Ingrid Hipkiss.