Tesla reported the biggest sales drop in its history, but the company said it's confident it will still reach its annual sales goal
About 63,000 vehicles were delivered to customers in the first three months of 2019 — a 31% drop compared to the prior quarter. The total sales figures included about 50,900 Model 3 sedans, Tesla's best-selling vehicle, and 12,100 luxury Model S sedans and Model X SUVs.It was the first quarter-to-quarter drop in sales at Tesla in nearly two years and the single largest drop ever. Slowing sales are a concern because Tesla needs to keep its sales pace high to pay down its sizable debts.
Second, the company started shipping its Model 3 to China and Europe for the first time in the first quarter. The new push on international sales has been a logistical challenge for Tesla. The company said Wednesday that it encountered"many challenges" with a"massive increase" in shipments abroad, something the company has previously warned investors about.
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