After a bumpy few weeks for Tesla, Wall Street investors will be looking for some much-needed reassurance when it unveils its first-quarter figures on Tuesday.
The electric vehicle (EV) maker has already signalled that its finances are likely to be hit after posting its first fall in car sales for four years earlier this month.
The Delaware-based car manufacturer, led by billionaire Elon Musk, delivered 386,810 vehicles in the three months to the end of March.
This was down by more than a fifth from the previous quarter and around 9 per cent less than in the same period of 2023.
It was the first year-on-year fall in sales since 2020 when the business was brought to an effective standstill by the Covid-19 pandemic.
To add further insult to injury, Musk said he would be cutting 10pc of Tesla’s workforce – costing around 14,000 jobs worldwide. The tycoon told staff there was nothing he hated more ‘but it must be done’.
Looking ahead to next week, analysts at AJ Bell have said Musk is likely try to ‘offer comfort’ to shareholders, which have suffered as shares slump by more than a third in the past year.
But Danni Hewson, an analyst at the broker, warned they are likely to be disappointed.
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