Tesla is selling fewer cars, but says it has ‘sufficient’ cash

Tesla’s sales have fallen for the first time in nearly two years. The Silicon Valley automaker announced that it delivered 63,000 cars globally in the first quarter of 2019, about 50,900 of which were Model 3s. That represents a 31 percent decline in deliveries compared to the final quarter of 2018. The last time Tesla saw a quarter-to-quarter sales decline was in the first half of 2017 — just before the Model 3 went into production.

As a result, “we expect Q1 net income to be negatively impacted,” according to a company statement. The statement also said the carmaker had “sufficient cash on hand.”

The decrease in sales to the start the year will likely buoy critics who believe Tesla has exhausted demand for the Model 3 in North…

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Tags: it, Tech, Tesla, Valley

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