Tesla (NASDAQ: TSLA) shares dipped in premarket trading on Wednesday, following a 1.7% rise in the previous session. This uptick was driven by optimistic forecasts from analysts at Barclays regarding Tesla’s Q3 electric vehicle (EV) deliveries.
Key Highlights:
- Delivery Projections: Barclays analysts predict Tesla’s Q3 EV deliveries will increase by 8% year-over-year, reaching around 470,000 units, surpassing the consensus estimate of 461,000.
- Q2 Performance: Tesla’s Q2 deliveries were 443,956, beating Wall Street expectations, reflecting strong demand and easing concerns over inventory for its Model 3/Y.
- China Market Strength: Analysts expect record deliveries of 179,000 units in China for Q3, attributing the strength to rising EV demand and potential pricing incentives. China remains crucial for Tesla, despite an ongoing price war with domestic rival BYD.
Tesla’s upcoming Full Self-Driving (FSD) technology launch in China, expected in 2025, could also be boosting demand.
Piper Sandler’s Forecast:
- Delivery Expectations: Piper Sandler raised its Q3 delivery forecast to 459,000 units, a 5.4% increase year-over-year. They anticipate strong Cybertruck deliveries in the U.S. and steady performance in China to offset European weakness.
- Full-Year Outlook: Full-year delivery estimates are now at 1.75 million units, up by 23,000 from previous forecasts, with a material impact on annual earnings.
Tesla’s Q3 delivery data, expected in early October, could be overshadowed by the unveiling of its robotaxi offering on October 10.
