Tesla's first quarter deliveries fell way short of estimates, sending the shares down sharply on Tuesday and casting a cloud on electric-vehicle demand. Elon Musk's EV maker produced over 433,000 vehicles during the first three months of the year, down 12% from the prior quarter and it delivered 387,000 down 20% from the prior quarter, the company reported. Analysts had expected the automaker to deliver over 400,000, according to estimates.
While the German luxury brand disclosed it won't meet its 2025 deadline to have EVs, including hybrids, make up 50% of all sales. Lackluster demand for electric-powered cars has delayed that goal until at least 2030, the company announced in February. CLICK HERE TO READ MORE ON FOX BUSINESS
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