In a shocking turn of events, Tesla's (NASDAQ:TSLA) shares took a hit, sliding approximately 2% early Wednesday following the company's dismal quarterly delivery figures, marking its worst performance since 2022. The electric vehicle powerhouse managed to deliver only 336,000 vehicles in the first quarter, significantly falling short of Wall Street’s already cautious expectations.

The disappointment has sent analysts into a frenzy. Notable strategist Dan Ives from Wedbush wasted no time branding the report a "disaster" across all key metrics, emphasizing that CEO Elon Musk needs to step back from the "political firestorm" surrounding the company and concentrate on core business operations.

Adding to the critique, RBC Capital Markets' Tom Narayan observed that while a sluggish quarter was anticipated, there was hope for stronger delivery numbers in March, spurred by a potential pull-forward effect in anticipation of impending tariffs. Unfortunately, that anticipated surge failed to materialize, leading to further disappointment.

Matt Britzman of Hargreaves Lansdown shared sentiments of dismay, pointing out that the severity of the decline exceeded predictions. Barclays also echoed these concerns, warning that the missed targets could signal a challenging path ahead for the iconic brand.

As major investors readjust their expectations, it's expected that forecasts for full-year deliveries and earnings may be lowered. Tesla is now grappling with increased competition in the EV market and must navigate an unpredictable macroeconomic landscape.

In light of these challenges, analysts are urging the company to innovate and find new strategies to reclaim investor confidence and drive sales as it faces growing pressure from established automakers and new entrants in the electric vehicle sector. With consumers more discerning than ever, can Tesla turn this ship around before it's too late? Only time will tell. Stay tuned for what could be a pivotal moment in Tesla's unfolding story.