Tesla’s deliveries in April-June 2024 are likely to have decreased by 3.7%. These are the conclusions of twelve analysts interviewed by LSEG. If their forecasts come true, this will be the first time that the automaker’s deliveries have declined for the second quarter in a row, Reuters writes.
Experts estimate that Tesla will deliver 438,019 vehicles in the June quarter. The data is to be officially released on Tuesday, July 2.
The decline is attributed to the fact that Elon Musk’s company is facing fierce competition in China and slow demand due to the lack of affordable new models.
After years of growth that helped Tesla become the world’s most valuable automaker, the company is facing a “slowdown”. In January, it warned that delivery growth this year would be “markedly lower” as the effect of months of price cuts wore off.
Some analysts expect the company to record its first annual sales decline this year. In January-March, deliveries fell by the most in almost four years and fell short of Wall Street’s expectations.
By the way, Tesla shareholders recently voted for Elon Musk’s $56 billion compensation package and supported the decision to move the company’s state of registration to Texas.
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