Global deliveries of Tesla’s flagship electric car models fell sharply in the first quarter — down 13% compared to last year — the company announced Wednesday. The drop comes as increasing competition erodes Tesla’s market share and CEO Elon Musk’s role as President Trump’s cost-cutting tsar sparks a backlash among consumers.
The results, released before the opening bell on Wall Street, sent Tesla’s already battered shares — which have lost 35% of their value since the start of the year — down even further in early trading. Before noon, however, the share price had rallied.
