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Tesla hits lowest quarterly deliveries in 3 years

Tesla delivered 336,681 vehicles globally in Q1, down 13% YoY and its lowest quarterly figure in nearly three years. The decline was linked to delays from the Model Y refresh, growing EV competition, and backlash over CEO Elon Musk’s political statements. Rumors of Musk stepping down from a DOGE advisory role briefly lifted Tesla shares, though the White House later denied the report and Musk called it false. Wells Fargo maintained its “underweight” rating, warning of further downside. The bank cited weak demand, delayed product rollouts, and concerns over Tesla’s autonomous driving tech as key risks.

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