Tesla first-quarter deliveries drop on challenges shipping Model 3 overseas

Tesla delivered 63,000 of its electric vehicles in the first quarter of the year, nearly a one-third drop from the previous quarter, the company reported late Wednesday. Tesla cautioned that it expects first-quarter profits to be negatively impacted by lower than expected delivery volumes and several pricing adjustments.
Deliveries included about 50,900 Model 3 vehicles and 12,100 Model S and X SUVs.
Tesla said despite the challenges that it “ended the quarter with sufficient cash on hand.