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Tesla posts surprisingly large Q1 loss as sales slump 31%

Updated : April 25, 2019 07:16 PM IST

Tesla CEO Elon Musk had prepped Wall Street for a first-quarter loss but analysts were still stunned by its size: $702.1 million, among the company’s worst quarters in the past two years.
Demand for Tesla’s Models S, X and 3 is returning to normal in the second quarter after the company delivered only 63,000 vehicles from January through March, Musk said.
The company said that due to “unforeseen challenges” it was only able to deliver half of the vehicles ordered in the quarter by March 31 as it ramped up deliveries in Europe and China.
Tesla posts surprisingly large Q1 loss as sales slump 31%
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