The car-maker reported a fall of 31 per cent in new-vehicle deliveries in the last period, compared to the previous three months. It delivered around 63,000 cars—and 50,900 Model 3 vehicles—in the first quarter, under analysts’ expectations. Meanwhile, CEO Elon Musk is defending himself in court on Thursday against claims from the U.S. Securities and Exchange Commission (SEC) that he violated their previous deal by posting material information about Tesla in a tweet in February.(Wall Street Journal)

Talking point: Tesla attributed the slowdown to issues with shipping internationally to Europe and China for the first time; 10 days before the quarter ended, it had only delivered half of the vehicles ordered for the period. The company set ambitious sales targets after a nearly two-year struggle to amp up production of the Model 3, its cheapest vehicle. It said that though lower-than-anticipated sales volumes—as well as several price cuts—would lower first-quarter income, it planned to end it with “sufficient cash on hand.”