Tesla 
TSLA shares fell about 3% on Thursday after missing Wall Street’s first-quarter delivery targets, overshadowing a rebound in the automaker’s China sales. The company reported delivering 358,023 vehicles globally in the first three months of the year, falling short of the average analyst estimate of about 369,000 vehicles.
The figure represents a roughly 14% drop from the prior quarter, though deliveries were up about 6% from a year ago, according to the company. Investors appeared focused on the sequential decline and the missed expectations, sending the stock down about 4% in pre-market trading.
Earlier on Thursday, separate data from the China Passenger Car Association showed Tesla’s China-made vehicle sales rose 8.7% in March from a year earlier to 85,670 units. That marked the fifth consecutive monthly increase. The company’s first-quarter wholesale deliveries from its Shanghai factory reached 213,398 cars, a 23.5% rise from the same period last year.
The delivery miss adds to pressure on Tesla as it faces intensifying competition from rivals such as BYD. The company has been pivoting toward artificial intelligence and robotics, including plans for autonomous robotaxis, though those efforts remain in early stages.
