On Tuesday, Tesla released first-quarter delivery data. Tesla delivered 386,810 vehicles in the first quarter. This number was far lower than analysts’ average estimate of 449,080 vehicles, marking the first year-on-year decline since the beginning of the epidemic. In the first quarter, automobile production was 433,371 units, which was also lower than the market estimate of 452,976 units.

The delivery volume of the main model Model 3/Y was 369,783 units, a year-on-year decrease of 10%, which was lower than the estimate of 426,940 units; the output was 412,376 units, which was also lower than the estimate of 439,194 units.

On the other hand, Tesla's rival, the US electric vehicle manufacturer Rivian, delivered 13,600 vehicles in the first quarter, exceeding market expectations of 11,900 vehicles.

After the data was released, Tesla fell nearly 7% before the market opened. Tesla's stock price has fallen nearly 30% so far this year, making it the worst performer in the S&P 500 Index.

In the first quarter, Tesla faced the double blow of reduced demand for electric vehicles and high interest rates. Analysts had previously lowered their expectations for Tesla's delivery volume. Some analysts pointed out that Tesla would experience its first year-on-year decline since the early days of the epidemic. Sales are down.

Musk warned investors in January that the company was between two major growth waves. The first wave of growth was driven by the launch of the Model 3 sedan and Model Y sport utility vehicle, while the next wave of growth is expected to come from the upcoming Model 2 model priced at around $25,000, which is scheduled to be launched late next year. Start production.

Although the next-generation model is key to growth, production of the model is not expected to begin until late next year, which means that the company may face the risk of slower growth before then. After the company's stock price plummeted by as much as $350 billion, investor confidence was dampened, and Tesla is using other methods (such as adjusting prices, promotions, etc.) to stimulate sales to avoid a year-on-year decline.