Tesla announced that sales volume fell to their lowest level in nearly three years in early 2025.
The electric car maker reported a 13% drop in first-quarter sales amid international criticism of its CEO Elon Musk, design changes to a key model and weak demand in China.
As a result, the company's shares fell in pre-market trading.
Tesla informed investors on Wednesday that it sold 336,681 vehicles in the three months through the end of March.
These are the lowest sales figures since the second quarter of 2022.
The latest sales figure also came in well below analysts' expectations of 390,000 units.
Tesla reported that it produced 362,615 vehicles in the quarter.
The sales decline came despite significant discounts, zero-cost financing and other demand-boosting incentives undertaken by the company.
Trading has been hit hard by major factory overhauls around the world ahead of the launch of the updated Model Y, causing significant supply disruptions.
In a statement, the Texas-based company said: “While the transition to Model Y production at all four of our plants resulted in the loss of several weeks of production in the first quarter, production of the new Model Y continues to progress.”
“We thank all of our customers, employees, suppliers, shareholders and supporters who have contributed to achieving these results.”
The decline in demand also comes as Tesla CEO Elon Musk's interventions in US and global politics have sparked protests, particularly in Europe and Asia.
Data released by the China Passenger Car Association (CPCA) earlier this week showed Tesla's sales in China fell by about 11.5% year-on-year.
Sourse: breakingnews.ie
