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Tesla (TSLA) Stock Retreats, Q1 Sales Miss Expectations as 'Hubris' Hurts SUV Supply

NEW YORK (TheStreet) -- Tesla Motors (TSLA - Get Report) stock is declining by 2.44% to $240.96 in early-morning trading on Tuesday, as the company's 2016 first-quarter global sales of 14,820 vehicles fell short of expectations.

Although first quarter deliveries rose by nearly 50% from the year-ago period, they failed to meet Tesla's forecast for 16,000 deliveries and declined from the 17,400 cars delivered in the previous quarter.

The electric vehicles manufacturer delivered 12,420 Model S sedans and 2,400 Model X sport-utility vehicles during the most recent period.

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