Tesla sales fall nearly 9% to start the year as competition heats up

A Tesla logo (Niall Carson/PA)

Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to lure more buyers.

The Texas-based company said on Tuesday that it delivered 386,810 vehicles worldwide from January through March, almost 9% below the 423,000 it sold in the same quarter of last year.