09:27 AM EDT, 04/02/2024 (MT Newswires) -- (Updates with additional details and the latest stock movement.)

Tesla (TSLA) had 386,810 Q1 deliveries, significantly missing the Bloomberg Consensus estimate of 449,080.

The company manufactured 433,371 vehicles in Q1, Tesla added. Analysts polled by Bloomberg estimated 452,976.

The decline in volume was due to the early phase of the manufacturing ramp of the updated Model 3 at its Fremont, California, plant and factory shutdowns because of the Red Sea conflict and an arson attack at its Berlin factory, Tesla said.

The EV manufacturer will report Q1 results after markets close on April 23.

Shares of Tesla were down 6.5% in recent Tuesday premarket activity.

Price: 162.86, Change: -12.36, Percent Change: -6.47