Business Standard
Sales of Tesla vehicles rose in the past three months after a brutal year of boycotts over Elon Musk's politics but still fell short of expectations. The company reported Thursday that sales rose 6 per cent to 358,023 in the three months through March, the first time in three years it posted a first-quarter increase from the year-earlier period. The increase follows a year of plunging sales due to an aging lineup and boycotts over Musk's right-wing political stands. Still, the results disappointed investors, who sold heavily on Thursday. One reason was that sales were 6 per cent lower than the 381,000 that financial analysts had expected, according to a survey by researcher FactSet. And they were sharply off from the sales for the three months ended in December. Tesla has had to contend with lower demand due to the September expiration of a USD 7,500 tax credit for EV buyers, a blow to sales across the industry. The company is hoping cheaper versions of Tesla models X and 3 introd
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