On April 3rd, Tesla revealed its vehicle production and delivery figures for the first quarter of 2024.
According to the data, Tesla's delivery volume in the first quarter dropped by 8.5% year-on-year to approximately 386,800 vehicles, while it produced around 433,400 vehicles during the same period, both figures falling short of expectations.
This marks the first year-on-year decline in quarterly delivery volume for Tesla since the production halt in 2020, causing a significant 4.9% drop in Tesla's stock price on the day of the announcement.
Since the beginning of this year, Tesla's stock price has plummeted by nearly one-third, resulting in the evaporation of over $260 billion in market value (approximately 1.88 trillion CNY).
After Tesla's delivery figures were released, some Chinese media outlets indicated that while Tesla's first-quarter delivery performance was enough to reclaim the title of the world's top-selling electric car maker from BYD, the achievement brought significant concerns for the world's most valuable car manufacturer.
For Tesla, the global leader in market value, this number has brought about considerable unease.
Other media outlets have pointed out that in the Chinese market, Tesla is facing fierce competition from domestic electric car manufacturers. Traditional players like BYD, as well as emerging contenders like Xiaomi, have entered the fray, significantly squeezing Tesla's market share.
