Tesla's vehicle sales in the first quarter experienced a 13% year-on-year decline, with a total of 336,681 vehicles delivered. This marks the lowest quarterly delivery figure since the second quarter of 2022. The company primarily attributed this decline to the redesign of its core models and the international uproar triggered by its Chief Executive Officer, Elon Musk. Furthermore, Tesla is contending with stiff competition from traditional automakers such as BYD and emerging brands, along with shifts in electric vehicle subsidy policies across various countries. These combined factors have significantly influenced Tesla's market performance.
