Tesla has reported its first sales decline in almost four years in the last quarter. Despite analysts’ expectations, turnover dropped by 9 percent year on year to $21.3 billion, falling short of the predicted amount. Earnings per share also missed estimates, with net profit declining by 55 percent to $1.13 billion.
Tesla struggled to meet expectations in the first quarter, delivering approximately 387,000 vehicles, which is 8.5 percent less than the same period last year. The company attributed some of the decline to the temporary closure of the factory in Grünheide, Germany, near Berlin, due to sabotage of power supplies.
The company did not provide a specific forecast for car deliveries for the year but expects a significant decrease from the previous year. After-hours trading saw Tesla shares drop more than 7 percent, adding to a total decline of over 40 percent since the beginning of the year.
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