【TSLA】Tesla's first-quarter deliveries rose over 6% to 358,000 units, but fell short of expectations. The U.S. stock market declined more than 4% before the market open.

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Tesla (U.S.: TSLA) releases first-quarter sales data: vehicle production was 408,386 units, up about 13% year over year, higher than the expected 388,169 units. Tesla’s deliveries last quarter were more than 358,023 vehicles, up about 6.3% year over year, but below the expected 372,160 vehicles.

Because Tesla’s first-quarter deliveries missed expectations, it dragged Tesla’s U.S. stock price down more than 4% in pre-market trading, to $363.6.

During the period, Model 3/Y production was 394,611 units, up about 14% year over year, and deliveries were 341,893 units, up about 5.6%. Production of other models was 13,775 units, with deliveries of 16,130 units.

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