Tesla Inc reports first negative year-over-year growth since 2020 with a Q1 2024 delivery drop of 8.5%, missing analyst forecasts by 70,000 vehicles.

Company stock falls nearly 6% pre-market as investors react to potential market share loss and increased competition, especially in China.

Production issues at Fremont, disruptions from the Red Sea conflict, the arson at Gigafactory Berlin, and Cybertruck rollout problems are key factors behind delivery shortfall.

Tesla's high valuation, amidst delivery bottlenecks and competition, raises investor concerns over justifying its market worth.

Tesla's earnings report is anticipated on April 23, with expected earnings of 60 cents per share on $24.067 billion revenue.

Chinese EV maker BYD is launching its first all-electric pickup truck by end of 2024, intensifying competition for Tesla.