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【TSLA】Tesla's first-quarter deliveries rose over 6% to 358,000 units, but fell short of expectations. The U.S. stock market declined more than 4% before the market open.
Tesla (US: TSLA) reports first-quarter sales data: vehicle production was 408,386 units, up about 13% year over year, higher than the expected 388,169 units. Tesla’s prior-quarter deliveries totaled more than 358,023 vehicles, up about 6.3% year over year, but below the expected 372,160 vehicles.
Because Tesla’s first-quarter deliveries came in below expectations, it weighed on Tesla’s U.S. stock price in pre-market trading, which fell by more than 4%, to $363.6.
During the period, the Model 3/Y produced 394,611 units, up about 14% year over year; deliveries were 341,893 units, up about 5.6%. Other models had production of 13,775 units and deliveries of 16,130 units.