Tesla (TSLA) reported Q1 deliveries of 337,000 vs. the company polled consensus of 378,000, RBC Capital tells investors in a research note. Q1 was “always going to be down” sequentially, due to a number of factors, including “several weeks” of planned shutdowns for the Model & changeover, the firm says. While RBC had expected March to see some demand pull forward ahead of the April 2 tariffs, it appears that the Tesla U.S. delivery number for March might have been similar to January and February, the firm says, adding that shares should trade lower, but the impact could be “somewhat muted,” given the Q1 dynamics and the strong energy storage posting.
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