Tesla’s Quarter-on-Quarter Sales Drop 31%

Tesla Inc. delivered 63,000 electric cars in the first quarter of 2019, up from 57,200 units in the same period last year but down from 91,000 cars in the final quarter of 2018.

Sales of the company’s mass-market Model 3 sedan skidded to 50,900 units in January-March from a record 63,400 units in October-December. Logistics snags thwarted Tesla’s hope of accelerating growth in Model 3 sales in part by expanding availability into Europe and China.

The company, which registers each car sale upon delivery to its owner, says it had 10,600 vehicles, (including Model S sedans and Model X crossovers) in transit worldwide to buyers at the end of March.

Tesla says delays in deliveries will adversely affect first-quarter income. But it reiterates its goal of selling between 360,000 and 400,000 vehicles this year.