On April 2, 2026, Tesla’s stock price plunged by 5.42% in a single day, with market value evaporating by more than $70 billion. Tesla’s core product lines remain centered on Model 3 and Model Y, which account for more than 95% of its deliveries. In the Chinese market, Tesla's Shanghai Gigafactory delivered 213,000 vehicles in Q1, growing by 23.5% year-on-year. Globally, Tesla suffered annual delivery declines for two consecutive years: 1.79 million delivered in 2024, dropping to 1.64 million in 2025. In Q1 2026, Tesla produced 408,400 vehicles but only delivered 358,000, meaning inventory increased by 50,000 vehicles in one quarter. Inventory days surged from 21 last quarter to 35, the highest ever since UBS started tracking this number. Tesla’s market share in China's EV sector dropped from 10% to 8% year-on-year. The company expects 2026 capex to exceed $20 billion, a major jump from roughly $8.5 billion in 2025.