Elon Musk's Tesla experienced a 13% decline in vehicle deliveries compared to the previous year, as stated in the latest announcement from the company. This drop in performance was attributed to criticisms directed at Musk and the escalating competition in the market.

In the first quarter of 2025, Tesla disclosed that it manufactured over 362,000 vehicles and delivered more than 336,000 units. These figures marked a decrease in comparison to the same period a year earlier, where Tesla produced around 433,000 vehicles and delivered approximately 387,000.

Following this news, Tesla's stock initially dropped by nearly 3% in early trading on Wednesday. However, the stock recovered from these losses when reports surfaced that President Donald Trump had indicated Musk might resign from his White House position.

By Wednesday afternoon, Tesla shares had risen by about 5%.

The company has been facing strong backlash, including acts of violence and vandalism against its vehicles and dealerships. Musk, the CEO, is working in collaboration with Donald Trump in Washington to reduce federal government involvement.

Dan Ives, a managing director of equity research at Wedbush, a firm known for its optimism regarding Tesla, criticized the company harshly in a note to clients on Wednesday. He described the recent report as a disaster.

Tesla's latest announcement made no reference to Musk but mentioned that a "changeover of Model Y lines across all four of our factories resulted in a few weeks of production loss in Q1." The statement also noted that the Model Y ramp-up was progressing smoothly.

The release expressed gratitude to customers, employees, suppliers, shareholders, and supporters for their contribution to the company's achievements.

Further updates on this story are expected.