Tesla sales have been sliding all year, with each report of declining deliveries creating fresh headwinds for the stock.

In February, a report said that Tesla sales were down 45% year-over-year in Europe, causing the stock to drop 8% in a single day.

In March, a separate report said that Tesla sold 30,688 EVs in China the prior month, a 49% year-over-year drop. The stock plummeted 18% from March 4 until it hit its low on March 10.

In April, the company reported that it delivered 336,700 EVs in the first quarter, reflecting a 13% year-over-year drop. Tesla—under pressure alongside the broader market, which was reacting to Trump’s tariffs—dropped 41% from April 2 until the stock troughed on April 8.

In the…