Tesla reports lower sales and workforce cuts as electric vehicle demand slows

Tesla reported its first-quarter vehicle deliveries, which showed a slight increase from last year but fell short of expectations and were far below the company's peak. The company is dealing with an overproduction problem, and its cheaper vehicle models have not reversed a broader trend of declining sales.

Separately, U.S. safety regulators closed an investigation into Tesla's remote parking feature, called Summon, after the company made software updates to the system. The investigation by the National Highway Traffic Safety Administration (NHTSA) is now over.