Tesla quarterly deliveries decline for the first time in nearly four years

Tesla on Tuesday posted a decline in quarterly deliveries for the first time in nearly four years and missed Wall Street estimates, a performance some described as "ugly" as price cuts failed to stir demand in a highly competitive market.

Shares of the Elon Musk-led company were down 5.2% at $166.08 on Tuesday afternoon, losing about $30 billion in market value. The shares have fallen about 33% so far this year.