Tesla Delivers Below Expectations as Vehicle Shipments Miss Forecasts, Shares Drop 4%

Tesla (NASDAQ: TSLA) reported first-quarter 2026 vehicle deliveries that came in below Wall Street expectations, marking the second consecutive quarter in which the electric vehicle maker fell short of analyst forecasts. Shares declined about 4% intraday Thursday following the update.

The company delivered a total of 358,023 vehicles during the quarter, compared with analyst estimates of approximately 372,160 units, a figure that had already been revised downward in recent weeks.

Production totaled 408,386 vehicles, including 394,611 Model 3 and Model Y units and 13,775 vehicles from other models. Deliveries consisted of 341,893 Model 3 and Model Y vehicles and 16,130 units from other models, including the Model S, Model X, and Cybertruck.

Tesla also deployed 8.8 gigawatt-hours of energy storage products during the quarter.

Despite missing expectations, deliveries increased 6.3% year over year, aided by easier comparisons as the company had paused Model Y production at several facilities during the same period last year.

Tesla is scheduled to release its full first-quarter financial results after market close on April 22.