"Tesla's production outpaced sales by 50,000 units in the first quarter, the largest gap in its history, highlighting challenges in shifting EVs amid a downturn."
"The company sold 358,023 EVs, a 6% increase from last year, but below the expected 372,160, leading to a 4% drop in share price."
"US electric vehicle sales have plunged 28% in early 2026, prompting Tesla and its competitors to scale back investments and adjust strategies."
"Despite plans to expand its robotaxi service and produce new models, Tesla's rollout has lagged behind competitors like Waymo."
Tesla produced 50,000 more vehicles than it sold in the first quarter, indicating a significant struggle to shift its EVs. This gap is the largest in Tesla's history, contrasting with its previous ability to match supply with demand. The company sold 358,023 EVs, which was below analyst expectations. The decline in demand is attributed to the removal of the $7,500 tax credit and a broader 28% drop in US electric vehicle sales. Tesla is also preparing to expand its robotaxi service and production of new models.
Read at www.businessinsider.com
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