Tesla Sales Rise 36 Percent in First Quarter Following Price Cuts

DETROIT — Tesla’s first-quarter vehicle sales rose 36 percent after the company cut prices twice in a bid to stimulate demand. The electric car, SUV, and heavy truck maker said it delivered 422,875 vehicles worldwide from January to March, up from just over 310,000 a year ago. But the increase fell short of analyst estimates of 432,000 for the quarter, according to FactSet. The first quarter sales were a record for the company. Tesla cut prices in early March on its more expensive models, the S and X, by $5,000 to as much as $10,000. In January it slashed the…