Tesla's first-quarter deliveries miss estimates as tax credit expiry weighs
Published on April 2, 2026.
Tesla delivered 358,023 vehicles in Q1, down 14.4% from the fourth quarter, and up 6.3% from a year earlier, according to Visible Alpha data. This is the first time in Tesla's history that two consecutive years of declining deliveries have occurred. The company has also seen signs of stabilization, gaining market share in key markets such as France in the first quarter of 2026. The expiry of a $7,500 federal tax credit, which significantly decreases demand for U.S. electric vehicle sales, is expected to negatively impact EV demand this year. Tesla's valuation of $1.4 trillion depends heavily on its future ambitions, while auto sales remain a key revenue source.
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