Tesla misses Q1 2026 delivery estimates by a wide margin
Tesla shipped 358,023 vehicles for total production of 408,386 – well below analysts’ forecasts of around 370,000 and Teslaown internal expectations. The results weighed Teslashares at the start of trading on Thursday, which caused it to fall by around 4%.
Together, the Model 3 and Model Y accounted for 341,893 of the quarter’s deliveries. The remaining balance of units came from Teslaother ranges of vehicles. While deliveries increased by 6% year-on-year, the comparison is flattering. The previous year’s quarter itself contracted by 13% compared to the first quarter of 2024.
Energy storage deployment was slower this quarter, coming in at 8.8 gigawatt hours. This is a significant drop from the previous quarter’s record 14.2 GWh and the previous quarter’s 10.4 GWh. Tesla managed in the first quarter of 2025.
The gap between production and delivery suggests a build-up of inventory on Teslathe books. Delivery figures are the closest public measure to Teslasales.
Tesla‘s car lineup will shrink further by 2026. CEO Elon Musk said the company is ending manufacturing of the Model S and Model X $TWTR, its long-running premium sedans and SUVs, which accounted for a fraction of overall volume. Last year, when TeslaThe total was approximately 1.64 million vehicles, with 3 and Y accounting for 97% of the volume.
Thursday’s results come as Tesla navigates a crowded global electric vehicle market, the expiration of a $7,500 federal tax credit for plug-in vehicles and public criticism over Musk’s political profile and his work in the Trump administration.
TeslaFourth-quarter 2025 results, released in January, showed net profit down 61% from a year earlier, automotive revenue down 11% and total deliveries down double-digits, making 2025 the company’s toughest year in some time and the first with an annual revenue decline. Energy storage was a rare bright spot, with revenue rising 25% to $3.84 billion and storage deployments hitting a record. Musk used this earnings call to focus investors’ attention on robotaxis, Optimus humanoid robots and artificial intelligence.
Tesla is expected to release its full first quarter 2026 financial results after the market closes on April 22.
