Tesla Q1 auto deliveries fall 8.5%, shares drop sharply

Tesla reported an 8.5% drop in first-quarter auto deliveries, missing estimates from leading analysts and weighing on shares. Elon Musk's auto giant reported 386,810 deliveries over the period, reflecting in part a weak sales market in China, where it faces heavy competition from local electric vehicle (EV) makers. The automaker's production slipped about 1.7% to 433,371.