Tesla is probably about to report the largest drop in auto sales in the company's history. Wall Street analysts expect the carmaker's figures to be sharply lower than the 90,700 cars that the company sold and delivered to customers last quarter.
That's not a shock —Tesla faced some special circumstances last quarter. But it's still a concern: Tesla needs to keep its sales pace high to pay down its sizable debts.Tesla will report first quarter sales and production figures Tuesday, and Wall Street analysts expect them to be sharply lower than the 90,700 cars that the company sold and delivered to customers last quarter. Analysts predict Tesla delivered just over 50,000 cars over the last three months.
But the new push on international sales has been a logistical challenge for Tesla, which said in January that it would deliver 10,000 fewer Model 3s than it produced because it takes longer to ship the cars abroad. When Tesla issued that guidance in January, CEO Elon Musk said he was still"optimistic about being profitable in Q1." But he admitted a month later that he expected a modest first quarter loss.
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