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AP National Business

Tesla sales rise 36% in first quarter, following price cuts

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Published 9:45 AM

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Tesla’s first-quarter vehicle sales rose 36% 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. That’s up from just over 310,000 a year ago. According to FactSet, the increase fell short of analyst estimates of 432,000 for the quarter. Tesla cut prices in early March on its more expensive models by $5,000 to as much as $10,000. In January it slashed prices again. Some versions of the top-selling Model Y small SUV saw price trims of nearly 20%, and the base price of the Model 3 small car was dropped by 6%.

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