Tesla's first-quarter vehicle sales rose 36 percent after the company cut prices twice in a bid to stimulate demand.
The electric car, SUV and heavy truck maker said it delivered 422,875 vehicles worldwide from January to March, up from just over 310,000 a year ago. But the increase fell short of analyst estimates of 432,000 for the quarter, according to FactSet. The first quarter sales were a record for the company.
Analysts are watching to see if the price drops cut into the company's profit and margins per vehicle. Tesla says it will release first-quarter earnings after the markets close on April 19. Tesla produced more vehicles than it sold during the first quarter, making 440,808 as it ramped up production at new factories near Austin, Berlin and Shanghai.
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