Tesla sales rise after brutal year of Musk boycotts but still fall short of expectations
Tesla's vehicle sales rose 6% to 358,023 in the first quarter, following a brutal year of boycotts over Elon Musk's politics. The sales figure still fell short of expectations, with the company's stock dropping 3% to $369 per share in early morning trading.
Tesla reported a 6% increase in vehicle sales to 358,023 in the first quarter. This is the first time in three years the company has posted a first-quarter increase from the year-earlier period. The sales figure is 6% lower than expected. Tesla introduced cheaper versions of its models X and 3 late last year, which may have helped lift sales. The company will report quarterly earnings on April 22. Financial analysts expect Tesla to report net income roughly doubled to 25 cents a share on $23 billion in revenue.
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