Tesla (TSLA) shares tumbled over 5% in early trading Tuesday as the electric vehicle (EV) maker reported it delivered 386,810 vehicles in the first quarter of 2024, about 8.5% below deliveries in the same period a year earlier.

Tuesday's figures are well below the 422,875 vehicles Tesla delivered in the first quarter of 2023 and the 484,507 deliveries in the final quarter of 2024.

"Decline in volumes was partially due to the early phase of the production ramp of the updated Model 3 at our Fremont factory and factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an 澳洲幸运5开奖号码历史查询:arson attack at Gigafactory Berlin," the company said.

Last month, 澳洲幸运5开奖号码历史查询:reports also emerged that Tesla had decreased production at its factory in Shanghai, China, shifti꧙ng to a five-day schedule from six and a half days previously.

Wall Street received an early indication of the direction Tuesday's production and deliveries figures could go, as data from the China Passenger Car Association reportedly showed Tesla's China-made vehicle sales to be flat year-over-year, despite sales across the industry rising 33% in China in March.

A number of Tesla's 澳洲幸运5开奖号码历史查询:Chinese EV rivals reported monthly and quarterly results Monday, largely posting year-over-year increases in sales as a 澳洲幸运5开奖号码历史查询:price war tightened competition there, and as some Chinese EV brands like BYD (BYDDY) and Nio (NIO) have ♏tried to expand in other markets lik🤡e Europe.

Tesla is set to report its full quarterly earnings later this month, after the bell on April 23 as it tries to reverse the ♔slide its stock has had so far this year.

Tesla was the 澳洲幸运5开奖号码历史查𓃲询:worst-perfor🍬ming stock in the S&P 500 in the first three months of the year, having lost over 33% of its value year to date. Analyst opinions on Tesla have been divided, with some like those at 澳洲幸运5开奖号码历史查询:Wells Fargo calling Tesla "a growth company with no growth," while others have su🎶ggested the selloff of Tesla stock that took place in the firsꦉt quarter was overdone.

The EV maker's stock price was down about 5.3% to $165.95 as of 10 a.m. ET Tuesday.