Tesla Shares Drop 6% Following Q1 Deliveries Announcement 
<p><a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> shares plunged more than 6% today, following the company's announcement of first-quarter delivery figures that fell short of CEO Elon Musk's ambitious targets. </p>
<p>While Tesla set a record by delivering 422,875 vehicles in Q1/23, which represented a 4% increase from the previous quarter and a 36% increase from Q1/22, it was still far from Musk's goal of delivering 2 million vehicles this year, which would require growth of over 50%.</p>
<p>Furthermore, Tesla is facing mounting competition, particularly in China, the largest market for electric vehicles. Despite reducing prices by up to 20% in January in response to slow demand, Tesla is struggling to compete with rivals in this increasingly crowded market. In addition, the company's core customer base, which includes high-paying sectors such as technology and finance, has been impacted by inflation and layoffs, making affordability a pressing issue for Tesla in recent months.</p>

NASDAQ:TSLA