Tesla quarterly car deliveries fall for the first time in nearly four years

Drop is sign that effects of its price cuts are waning while electric automaker's shares have fallen nearly 30% so far this year

Tesla posted a fall in deliveries for the first time in nearly four years and missed Wall Street estimates, a sign that the effects of its price cuts are waning as the automaker battles rising competition and softer demand.

Tesla's shares have fallen nearly 30% in value so far this year, sliding 5.7% in early trading on Tuesday.