An absolute disaster. Tesla’s sales have fallen sharply, only someone will explain this to investors

Oacquisition of an American electric car manufacturerTeslain the first quarter of this year, the number fell by nine percent to 386,810 vehicles from approximately 423,000 vehicles a year ago. It thus showed the first year-on-year drop in the team in three years and fell well short of the average analyst. Fill it in from the data that the company published on Tuesday. The company’s shares weakened sharply after initially reporting a drop in sales.

Analyst Dan Ives from Wedbush Securities announced the latest resultsTeslafor a “complete disaster”, which the company will have to explain to investors. The automaker stated that the drop in sales in the first quarter was due to problems caused by traffic disruptions in the Red Sea and saboteurs, which limited production at its German factory. Analysts polled by FactSet predicted that eTeslain the first quarter, up to 457,000 cars were damaged, wrote the AP agency.

Tesla, in which Elon Musk still has billions, has recently been faced with remaining competition and the slowing growth of demand for electric cars. The automaker last reported a year-on-year drop in sales in the second quarter of 2020, when it had to limit production due to the covid-19 pandemic, Reuters wrote.

In n, which is the largest automotive market in the world, elTeslasharp competition from domestic car manufacturers, for example BYD. She survived in the fourth quarterTeslaon the post of the first seller of a car with an electric drive in the world. Nothing happens in the first quarter of the yearTesladespite the drop in sales, it was on top. The company BYD announced today that in the first quarter it sold only about 300,000 electric cars. Although this represents a year-on-year growth of about 13 percent, it represents a drop of 43 percent compared to the fourth quarter.

StocksTeslaaround 18:00 SEL lost five percent. Since the beginning of this year, it has dropped by about an eighth of its value. Financial results for the first quarter of the yearTeslapublished on April 23.

A drop in the price of the eventTeslahas a negative impact on the value of Musk’s name, which, according to data from the Bloomberg agency, has fallen by 40.5 billion dollars (that is, a trillion K) since the beginning of this year. These data do not include the daily decline of the stockTesla. According to them, with a fortune worth $189 billion (roughly K4.4 trillion), Musk is the world’s richest man behind LVMH founder Bernard Arnault and Amazon founder Jeff Bezos.

Analyst Gene Munster of Deepwater Asset Management said this year’s first quarter was proTesla“spin”. According to him, sales were negatively affected by years of high rates and the decline in sales around electric cars. However, Munster was optimistic about the company’s long-term prospects. “Stle vm, eTeslahe’s on the right track and this bug is coming,” he wrote on site X.

According to the Reuters agency, experts have concluded that there are six potential damagesTeslain the United States, Moscow’s leaning toward right-wing politics and some of its public acclaim are discouraging.

FactoryTeslanear Berlin last month, production had to be stopped for about a week due to a break in the electricity supply due to a broken power line pole. Later in the letter, the radical left group Vulkangruppe agreed to the sabbath.