Elon Musk’s Tesla (TSLA) just reported a sharp fall in electric car sales, despite cutting prices in order to stimulate demand as it faces increased competition, especially in China.
In the first quarter of 2024, Tesla delivered 386,810 electric cars. That was a fifth lower than the fourth quarter of 2023, and 8% lower than the same quarter a year earlier. Wall Street had expected deliveries of about 450,000 cars in the quarter.
