Tesla's stock plummeted by 10 percent on Thursday morning after the company announced deliveries for the first quarter of the year had dropped by 30 percent.
The company delivered 63,000 vehicles in the last three months, nearly 30,000 behind the 90,700 it delivered in the final quarter of 2018 and a long way off the approximately 73,500 analysts had predicted it would.
It made produced 77,100 cars but said that due shipping to Europe and China for the first time, delivery rates across the US were stunted.
Half of the quarter's total deliveries were made in the last 10 days, it said.
Tesla share dropped by 10 percent on Thursday at the start of trading after the company announced its car deliveries for the first quarter of the year were down 30 percent from last year's final quarter
Of the 63,000 cars delivered, 50,900 were Model 3s and 12,100 were Models S and X. In its announcement, the company said orders for Model 3s 'significantly outpaced' what it was able to deliver.
'Due to a massive increase in deliveries in Europe and China, which at times exceeded 5x that of prior peak delivery levels, and many challenges encountered for the first time, we had only delivered half of the entire quarter’s numbers by March 21, ten days before end of quarter.
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'This caused a large number of vehicle deliveries to shift to the second quarter. At the end of the first quarter, approximately 10,600 vehicles were in transit to customers globally.'
Despite the slow-down, the company maintained its earlier projection that it would deliver between 360,000 and 400,000 vehicles by the end of the year.
