Electric Vehicle Giant Poised for Major Milestone as Quarterly Deliveries Loom
Tesla is gearing up for a pivotal moment in its quarterly delivery report, slated for release on October 2. Analysts predict a strong showing, with estimates suggesting the company will deliver around 462,000 units, a 6% increase from the same period last year. This would mark the third-best quarterly delivery total in Tesla’s history.
The electric vehicle manufacturer has been on a tear, with its stock price edging up 0.3% on Monday to close at 261.40. The company’s energy business has also been performing well, with some analysts predicting a rebound in the second half of the year.
Wedbush Securities analyst Dan Ives, a long-time Tesla bull, expects deliveries to exceed consensus estimates, potentially reaching 465,000-470,000 units. Ives cites China’s continued growth, as well as price and demand stabilization, as key factors driving the company’s success.
Other analysts, including those from Deutsche Bank, RBC Capital, and Piper Sandler, have also raised their delivery estimates, with some predicting totals as high as 470,000 units.
Tesla’s China registrations, a rough gauge for deliveries, have seen a 20% increase compared to last quarter and an 18% jump year-over-year. The company’s year-to-date China registrations have also turned positive, thanks in part to government subsidies for electric vehicles.
The upcoming quarterly delivery report is just the beginning of a busy October for Tesla, which will also host a robotaxi event on October 10 and release its third-quarter earnings. With its stock price up over 21% in September, Tesla is poised for a strong finish to the year.
Leave a Reply