Tesla reports 9 percent dip in first quarter revenue

Tesla saw a 9 percent year-over-year decline in first-quarter revenue, the electric vehicle (EV) company said Tuesday. 

The drop in revenue, Tesla’s largest since 2012, comes as the EV firm faces falling sales and growing competition. 

Tesla slashed the price of three of its best-selling vehicles — the Model X, Model Y and Model S — by $2000 each on Friday, just weeks after reporting a significant dip in first-quarter sales. 

Vehicle deliveries were down 8.5 percent compared to last year...