Tesla's Record Sales Plunge Raises Concerns for EV Market

Tesla's first-quarter vehicle deliveries fell short of expectations, with just 386,810 vehicles delivered, marking the biggest miss in seven years. The company cited various challenges including production disruptions, shipping delays, and a suspected arson attack at its plant in Germany. Despite these setbacks, Tesla managed to reclaim its position as the world's top seller of electric vehicles, surpassing China's BYD Co. However, concerns about softening demand and high interest rates impacting sales linger, leading to a 4.9% drop in Tesla's shares and a 33% decline in 2024.