Tesla's Q1 Deliveries Hit a Speed Bump

Tesla's production and delivery numbers for the first quarter (Q1) of 2024 came in lower than expected. While the company churned out 433,371 vehicles, it only managed to deliver 386,810 to customers. This marks a significant drop compared to the record-breaking Q4 of 2023.

Tesla attributed the slowdown to a few challenges. The ongoing conflict in the Red Sea disrupted shipping routes, and a fire incident at their Berlin Gigafactory caused production delays.

As usual, the ever-popular Model 3 and Model Y dominated deliveries, accounting for over 95% of the total. The remaining deliveries were spread across the Model S and Model X, with specific figures unsurprisingly absent from Tesla's report.

Here's a snapshot for comparison:

These figures represent a roughly 20% decline in deliveries and a 12.5% dip in production compared to Q4 2023. Investors will be watching closely when Tesla releases its financial results on April 23rd to see the financial impact of this slowdown.

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