Tonight, after the U.S. markets close, Elon Musk has a conference call to make.
Tesla‘s (NASDAQ:TSLA) first-quarter financial results are due, and the number of lingering questions ahead of that call is starting to look like the number of cars piling up on Tesla’s lots.
- TSLA stock is moving. See the chart and price action here.
Let’s Start With The Cars
Tesla built 408,386 vehicles in the first three months of 2026. It delivered 358,023.
Both numbers are straight from Tesla’s own first-quarter production and delivery release, filed with the SEC in early April.
The gap between them — 50,363 cars built and not sold — is, according to InsideEVs, more unsold inventory than Tesla has ever had in its roughly two decades in business.
For a company that spent the last decade famous for waiting lists and delivery crunches, sitting on a record pile of finished EVs is not a small shift. It’s the kind of thing that usually ends with discounts, and discounts end with thinner profit …