Tesla Inc. is expected to report its first-quarter 2025 vehicle deliveries on April 2, with Wall Street bracing for a potentially grim performance. Analysts have revised their delivery expectations downward to around 377,600 electric vehicles, marking the company's worst performance in over two years. This adjustment reflects concerns over weaker demand in key markets such as Europe and China, where sales have significantly declined. Several financial institutions have adjusted their outlooks on Tesla. Deutsche Bank maintained a 'Buy' rating but lowered its price target to $345 from $420, citing weaker volume and the rollout of the new Model Q. RBC Capital reiterated an 'Outperform' rating with a price target of $320, acknowledging delivery weakness in China and Europe but maintaining a positive long-term outlook. HSBC, however, maintained a 'Reduce' rating and set a target price of $130, pointing to pre-existing sales weakness exacerbated by recent brand issues. The anticipated lower deliveries are attributed to multiple factors including the Model Y refresh, which led to factory shutdowns, and the upcoming launch of a new affordable model in Q2 2025. Additionally, Tesla's sales in Europe and China have been impacted by broader market dynamics and competition, with European sales dropping by 42% and Chinese sales falling nearly 50% in the first two months of 2025.