Tesla reported 358,023 vehicle deliveries in the first quarter. Photo / Getty Images
Tesla reported 358,023 vehicle deliveries in the first quarter. Photo / Getty Images
Tesla reported higher first-quarter car sales Thursday, but missed analyst estimates.
The electric vehicle maker, led by billionaire entrepreneur Elon Musk, reported deliveries of 358,023 for the first quarter, up 6.3% from the year-ago period. Analysts had projected sales of 365,645, according to consensus figures on Tesla’s website.
Teslareported vehicle production of 408,386, which was up 12.6% from the year-ago level.
The sales figures follow a volatile 2025 in which Tesla sales declined much of the year as the company faced increased competition in the EV market, as well as consumer boycotts sparked by opposition to Musk’s far-right political stances.
But Tesla enjoyed a brief surge in sales in the third quarter, as the United States phase-out of a consumer tax credit lifted sales.
Investor enthusiasm for Musk’s ambitious goals for artificial intelligence and autonomous driving has helped lift Tesla’s market capitalisation to more than US$1.3 trillion ($2.2 trillion), as of Thursday morning (US time).
That dwarfs traditional carmakers like General Motors and Ford, both of which have market values under US$70 billion ($122 billion).
Tesla shares fell 5.2% following the release. The stock is down 10.6% over the past month.
