General views of the Tesla store in Paramus, New Jersey, March 20, 2025.
Kena Betancur | Getty Images
Tesla reported delivery of 336,681 vehicles in the first quarter of 2025. This is a 13% drop from a year ago, two days after shares in the electric vehicle company concluded their worst quarter since 2022.
The company’s shares concluded with over 5%, rebounding from DIP after Politico reported that CEO Elon Musk could leave the government’s efficiency department.
This is the important number:
Total Delivery Q1 2025: 336,681 Total Production Q1 2025: 362,615
According to StreetAccount, investors were hoping Tesla would report deliveries of 360,000 to 370,000 vehicles. Tesla’s Investor Relations team sent the company’s compiled consensus to analysts, saying the average estimate is around 377,590 delivery. Forecast market company Calci released forecasts for 352,000 Tesla delivery on Tuesday.
In the first quarter of 2024, Tesla reported 386,810 deliveries and production of 433,371 vehicles.
Typically among Tesla and CEO Musk’s biggest followers, Wedbush Securities analyst Dan Ives called the electric car company “fork of the road moments” in the post on social media platform X.
“We knew that 1Q Tesla delivery would be softer, but these numbers were bad,” he wrote. “We’re not going to see these numbers in rosy glasses… They were disasters on every metric. We refresh the keys of a brand crisis.”
Delivery is the closest approximation of vehicle sales reported by Tesla, but is not accurately defined in our shareholder communications.
Tesla does not destroy sales and production by model or region. However, the company said it produced 345,454 of its most popular Model 3 and Model Y vehicles in the three months ended March 31, delivering 323,800 of them.
The company reported 12,881 distributions of other models, including angle steel cybertruck.
During the quarter, Tesla faced several planned partial closures of its factory, allowing the company to begin production of a redesigned version of its popular Model Y SUV.
Musk said in an all-hands session with Tesla employees that he expects the Model Y to become “a bestselling car on the planet again this year.”
However, Tesla has to compete with the onslaught of EV competition and the damage to reputation. In the first quarter, the company was hit by a wave of protests, boycotts and criminal activity targeting Tesla vehicles and facilities in response to Musk’s political rhetoric and his work as part of President Donald Trump’s second administration.
After spending $290 million to get Trump back to the White House, Musk is leading the so-called government efficiency department, or Doge, which cut costs, eliminated regulations and cut federal jobs for tens of thousands.
The world’s wealthiest Musk is also involved in European politics, promoting Germany’s anti-immigrant AFD party in the February election. Tesla’s business on the continent is struggling.
Tesla’s market share in 15 countries fell from 17.9% in the first quarter to 9.3%, from 17.9% in the first quarter, according to data tracked by EU-EVS.Com. In Germany, Tesla’s market share in battery-electric vehicles plummeted from about 16% of its stretch to 4%.
Sales of Tesla electric vehicles in China fell to 11.5% year-on-year in March, down from 11.5%, according to data from the Chinese Passenger and Motor Vehicle Association released Wednesday. The company faces growing regional competition from EV manufacturers such as BYD.
Earlier in the quarter, Tesla allegedly sold 8,653 EVs over the January weekend in Canada, and the Toronto star reported that it plans to pay tens of millions of grants with payments for EV grants, part of the program that ended. The Canadian Minister of Transport later freezes payments and investigates the effectiveness of the sale.
Tesla did not respond immediately to emails from CNBC.
Tesla shares sank 36% in the first quarter, plummeting the most since the fourth quarter of 2022, and the third-largest decline in the company’s 15-year public market. The drop wiped out $460 billion in market capitalization.
– Reported by Samantha Subin of CNBC.
Correction: This story was updated to correct that Tesla’s market share in Europe fell from 17.9% in the first quarter 2024 to 9.3% in the first quarter 2025.
