Electric vehicle giant Tesla is on the cusp of releasing its third-quarter delivery numbers, which could propel its stock to new heights. Analysts are predicting a significant uptick in global deliveries, with estimates ranging from 459,000 to 470,000 units, surpassing the 444,000 vehicles delivered in the previous quarter. If realized, this would mark a substantial sequential improvement, although still shy of the 466,000 electric vehicles delivered during the same period last year.
Tesla’s stock has been on a tear, surging over 20% in the past month, driven by excitement surrounding its upcoming robotaxi event and promising sales trends in China. A strong delivery report would alleviate concerns about a slowdown in annual vehicle growth, which the company had warned about earlier this year.
Wall Street analysts are increasingly optimistic, with some revising their estimates upward. One analyst believes Tesla may report its strongest quarter ever in China, while another predicts deliveries will top 470,000 units, easily exceeding expectations. The optimism is fueled by July’s global EV sales data and August’s China registrations and production numbers.
Furthermore, analysts expect profitability to rebound after a significant decline over the past year. Price cuts, which had been a major drag on margins, are now largely behind the company, paving the way for a gross margin recovery.
The highly anticipated Cybertruck is also gaining traction, with sales data showing over 5,000 units sold in July and 17,722 year-to-date. While the Cybertruck accounts for only a small percentage of overall sales, its growing popularity could make a significant difference in Tesla’s overall delivery numbers. As the electric vehicle market continues to evolve, all eyes will be on Tesla’s third-quarter performance, which could be a major catalyst for the stock.
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