Tesla’s vehicle sales fell in the past quarter to their lowest level in nearly three years amid a consumer backlash over Elon Musk’s political interventions.
Sales in the January to March period dropped 13% to 336,681 vehicles, down from 386,810 vehicles a year ago, according to figures released by Tesla.
The billionaire boss promised that Tesla would return to growth this year after its annual deliveries fell for the first time in 2024, but the carmaker has faced protests over Musk's involvement in federal spending as an advisor to President Donald Trump.
Tesla’s shares fell $5.23, or 2%, to $263.23 on Wednesday morning in New York, extending a run of weakness from mid-December that has cost the company roughly 30% of its value.
Read more in The Times.
FTSE 100
The UK's flagship share index, the FTSE 100, was down 101-points at 8.508 shortly after opening this morning.
Brent crude oil futures were down 0.61%, trading at $72.87 a barrel.