---
title: "Gene Munster Warns Tesla's March Delivery Number Will Be 'Ugly' But June Will Be Uglier"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/234139566.md"
description: "Gene Munster of Deepwater Asset Management warns that Tesla's March delivery numbers will be disappointing, predicting around 355,000 units, down 8% year-over-year, and below analyst estimates. He anticipates June will be even worse, calling 2025 a \"throwaway year\" for Tesla. Despite short-term challenges, Munster remains optimistic about Tesla's long-term prospects due to its cash position and competitive advantages in AI. Tesla's stock closed at $268.46, down 29.22% year-to-date, amid concerns over CEO Elon Musk's political involvement affecting brand perception."
datetime: "2025-04-02T01:46:24.000Z"
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  - [en](https://longbridge.com/en/news/234139566.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/234139566.md)
---

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# Gene Munster Warns Tesla's March Delivery Number Will Be 'Ugly' But June Will Be Uglier

**Deepwater Asset Management**‘s **Gene Munster** is bracing for disappointing **Tesla Inc.** TSLA delivery numbers when the electric vehicle maker reports first-quarter figures on Wednesday, warning investors that the coming months could be even more challenging.

**What Happened**: “The March number is likely going to be ugly. The June will likely be worse. Then things begin to slowly improve,” Munster wrote Tuesday on X, signaling a dramatic reversal for a company that once projected 20-30% growth.

The Tesla bull anticipates first-quarter deliveries around 355,000 units, down approximately 8% year-over-year, significantly below analyst consensus estimates of 377,592. His projection aligns with prediction markets, where Kalshi traders give only a 56% probability of Tesla exceeding 350,000 deliveries.

> Final thoughts going into tomorrow's $TSLA numbers.
> 
> ➡️ The March number is likely going to be ugly. The June will likely be worse. Then things begin to slowly improve. https://t.co/UYrHByjVKf
> 
> — Gene Munster (@munster\_gene) April 1, 2025

“I feel 35% less wealthy over the past few months since the Tesla numbers started to come down,” Munster told CNBC’s “Closing Bell,” characterizing 2025 as a “throwaway year” for the automaker.

**See Also: Hillary Clinton, Barack Obama Join Bluesky, Posts Take Aim At Elon Musk’s Efforts In Wisconsin: Here Are The Top 10 Most Followed Accounts**

**Why It Matters**: Despite the near-term pessimism, Munster maintains his long-term optimism, citing Tesla’s “physical AI” competitive advantage through initiatives like Optimus robots and robotaxis. “Ultimately, I think investors are going to get behind that,” he said, noting Tesla’s $37 billion cash position provides ample runway.

The anticipated delivery decline comes amid concerns about CEO **Elon Musk**‘s increasing political involvement affecting brand perception. A recent Benzinga poll revealed 53% of respondents would “never own a Tesla,” highlighting potential demand challenges as the company looks toward recovery later this year.

**Price Action**: Tesla Inc. closed at $268.46 on Tuesday, up 3.59% for the day. In after-hours trading, the stock dipped 0.14% to $268.08. Year to date, Tesla’s stock has declined by 29.22%.

Tesla stock has shown strong momentum compared to rivals **Nio Inc.** NIO and **Lucid Group Inc**. LCID. However, it lags behind **Rivian Automotive Inc.** RIVN in short- to long-term price trends, according to Benzinga Edge Stock Ranking. Sign up to learn more.

**Read Next:**

-   **Goldman Warns Trump’s ‘Liberation Day’ Tariffs Could Spike US Fuel Prices**

_Image via Shutterstock_

**_Disclaimer_:** _This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors._

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