Tesla's Q1 deliveries are projected to fall short of expectations, with Barclays estimating around 350,000 units, significantly below the 400,000 consensus. This marks a 30% sequential decline and a 10% year-over-year drop, attributed to the Model Y refresh and weak seasonality.Inventory levels are expected to decrease by 20,000 units, bringing global inventory to 70,000-80,000 due to lower production in China and reduced output during the Model Y ramp. Despite the anticipated weak results, Barclays notes that the market may overlook this quarter due to prior management guidance.