The company attributed its disappointing financial results to Model 3 shipping delays, particularly in Europe and China. Tesla's quarterly loss followed changes to pricing and reversals in the way the company sells vehicles. A challenge to vehicle demand has been the lowering of a US tax credit on Tesla vehicles to $3,500 from $7,500 previously. Edmunds research indicated that most of the vehicles Tesla made in the first quarter were shipped overseas, suggesting US demand was softening, according to Caldwell. Musk contended that demand for Tesla vehicles is solid and vehicle production numbers would increase in the current quarter.

Source: Standard Digital April 25, 2019 11:37 UTC