Tesla sales grew by 6% in Q1, but company has an overproduction problem

Tesla produced 408,386 vehicles in Q1 2026, a 12.6% increase from a year earlier.

Tesla delivered 358,023 vehicles in Q1 2026, a 6.3% year-over-year rise, lagging production growth.

Inventory increased by about 50,000 units as Model 3/Y deliveries rose less than production.

Sales of Cybertruck, Model S and Model X fell 19.7% to 13,775 units.

Tesla deployed 8.8 GWh of energy storage in Q1, down 15% year-over-year.