Tesla’s (TSLA) stock closed 6% lower on April 2 after the electric vehicle maker delivered another disappointing sales report.
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New trading tool for TSLA bearsThe company run by CEO Elon Musk issued a delivery and production report for the first quarter that showed a steep year-over-year drop. Tesla said that it delivered 358,023 electric vehicles in Q1, while Wall Street was expecting 370,000 deliveries.
Worse, Tesla’s total deliveries for 2025 declined 8% to 1.64 million from 1.79 million in 2024. The 6% decrease in TSLA stock on April 2 was the biggest drop this year and puts the company’s share price down 20% in 2026, the technical definition of a bear market.
Can Tesla Get Its Mojo Back?
Tesla’s entry-level Model 3 sedan and most popular Model Y SUVs accounted for 341,893 of the vehicle deliveries in Q1 of this year, the company said in its latest report. Deliveries are the closest approximation of sales reported by Tesla.
Musk has been refocusing the company to produce a driverless Cybercab and humanoid robots. However, Tesla has yet to sell any of the new products it has been promising in recent years. The company still relies almost exclusively on electric vehicle sales for its revenue.
Is TSLA Stock a Buy?
Tesla’s stock has a consensus Hold rating among 31 Wall Street analysts. That rating is based on 13 Buy, 11 Hold, and seven Sell recommendations issued in the last three months. The average TSLA price target of $395.49 implies 10% upside from current levels.
