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Tesla’s year-over-year sales dropped for the first time since 2020
Tesla blames production ramps and overseas delays.
Tesla blamed the decline partially on “the early phase of the production ramp of the updated Model 3 at our Fremont factory,” as well as shipping delays resulting from Houthi rebel attacks in the Red Sea and the arson at its Berlin factory. The company had earlier predicted slowed 2024 growth as it prepared to begin new vehicle production in 2025. “...This was an unmitigated disaster 1Q that is hard to explain away,” posted Dan Ives, a tech analyst at Wedbush Securities, leading to a “seminal moment in the Tesla story for Musk to either turn this around and reverse the black eye 1Q.”
Or read this on The Verge
