{"text":[[{"start":9.3,"text":"Tesla reported a weaker than expected rebound in global deliveries in the first three months of the year, saddling the carmaker with an inventory of more than 50,000 vehicles amid sliding EV sales in the US."}],[{"start":25.05,"text":"The US carmaker delivered 358,023 vehicles in the three months to the end of March, up 6 per cent from 336,681 vehicles in the same period last year and below analysts’ forecasts of 369,000. Tesla shares were down almost 4 per cent in early trading on Thursday. "}],[{"start":49.03,"text":"With Tesla producing 408,386 vehicles in the first quarter, the sluggish demand left it with more than 50,000 unsold units at the start of the year, almost double that of the same time last year."}],[{"start":65.17,"text":"The group’s battery storage business, which has been a steady source of revenue for Tesla, also declined, deploying 8.8 GWh compared with analyst expectations of 14.4 GWh and below 10.4 GWh in the same period a year earlier."}],[{"start":85.36,"text":"Tesla lost its crown as the world’s biggest electric-car maker in 2025 to BYD. But its Chinese rival has also struggled with sales of electric vehicles tumbling 25 per cent in the first quarter amid intensifying competition from local rivals and the ending of many Chinese government subsidies last year. "}],[{"start":null,"text":"
"}],[{"start":110.15,"text":"Tesla lost market share to BYD and other Chinese rivals last year following a consumer backlash against chief executive Elon Musk’s political activism. But Tesla’s sales in Europe have started to rebound, with new registrations rising 12 per cent in February, according to European car industry body Acea. Sales in March were even stronger in some countries such as France."}],[{"start":137.34,"text":"The demand was driven partly by cheaper versions of its Model Y and Model 3, but some of the recovery was also fuelled by cash discounts in some countries, according to HSBC."}],[{"start":151.58,"text":"Meanwhile, Tesla’s sales in the US have been hit by the end of EV tax credits and President Donald Trump’s rollback in regulations to cut vehicle emissions. Tesla will also end production of its premium S and X models next quarter."}],[{"start":168.93,"text":"“Global EV demand ex-China remains under pressure, and Tesla is actively sacrificing its EV business in favour of a fully autonomous future,” said William Blair analyst Jed Dorsheimer."}],[{"start":183.87,"text":"Analysts expect only a modest increase in sales of Tesla’s EVs this year to 1.69mn, compared with 1.64mn in 2025, as Musk pivots the company’s focus to self-driving robotaxis and AI. "}],[{"start":201.5,"text":"Before the delivery figure was announced on Thursday, Tom Narayan, an analyst at RBC Capital Markets, said that rising fuel costs as a result of the Middle East conflict could “bolster near-term EV demand” for Tesla."}],[{"start":227,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1775178872_4940.mp3"}