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Tesla CEO Elon Musk's losing streak continued on Wednesday.
Hours after Republicans in Wisconsin lost a state Supreme Court race in Wisconsin where Musk spent tens of millions of dollars of his own money, shares of his flagship electric car company fell upon news that it had badly missed Wall Street estimates for the number of vehicles it had delivered in the first quarter of 2025.
As reported by Market Watch, Tesla revealed that "it delivered more than 336,000 vehicles during the first quarter, down from 387,000 deliveries a year ago."
To put this number into context, Market Watch notes that it "was well below the average analyst estimate compiled by FactSet of 404,000 vehicles" and it "was also lower than the 'whisper' number, or what Wall Street was quietly expecting, with even the most bullish analyst projecting a number in the 360,000 range."
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Although Tesla blamed the disappointing deliveries on what Market Watch describes as "the changeover to refreshed Model Y production lines" that "led to several weeks of lost production," it's also a reality that the company has been the target of a concerted boycott campaign led by progressive groups to protest Musk's role as the head of President Donald Trump's Department of Government Efficiency.
Sales of Tesla in Europe have fallen off a cliff in recent months, as car buyers on that continent have revolted against Musk's support for far-right political parties such as Germany's Alternative für Deutschland.
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