Tesla's Tumble: Sales Dip as Challenges Mount

Tesla's sales dropped 13% in the first quarter of the year, hinting at struggles like an aging product lineup, rivalry competition, and backlash against Elon Musk's political views, all potentially impacting this month's earnings report. Analysts' expectations were unmet with global deliveries at 336,681.

Tesla has faced a significant decline in sales, reporting a 13% drop in the first quarter of the year compared to the same period last year. This downturn signals potential trouble for the electric car giant under Elon Musk's leadership.

Several factors seem to be contributing to this sales slump, including an aging lineup, increased competition from rivals, and backlash tied to Musk's political affiliations. These elements may collectively impact the company's forthcoming first-quarter earnings report, anticipated later this month.

Despite efforts with deep discounts and zero financing offers, Tesla's global deliveries were 336,681, falling short of analysts' expectations of 408,000, according to FactSet polling.

(With inputs from agencies.)