Tesla's Q1 deliveries fell short of expectations, putting pressure on its traditional business.

Tesla announced one of its worst quarterly sales performances in recent years today, failing to meet Wall Street expectations. The company is facing challenges in transitioning its core business, with difficulties in the electric vehicle market. The company stated on Thursday that global deliveries in the first quarter were 358,023 vehicles, while analysts had expected a median of 372,160 vehicles. This forecast has been continuously revised downwards in the past few weeks. This is the second consecutive quarter that Tesla has failed to meet expectations. Most investors are willing to overlook Tesla's sales trends as CEO Elon Musk shifts focus to future business lines such as artificial intelligence, autonomous driving, and robotics. However, the traditional automotive business remains Tesla's main source of cash flow. Following the release of delivery data, Tesla's stock fell 4% in pre-market trading, and as of Wednesday's close, the stock price has dropped 15% this year, down 22% from its historical high in December.