Tesla Third-quarter auto production and delivery data are scheduled to be reported on Wednesday.
Analysts expect Musk’s automaker to report deliveries of about 463,310 vehicles, according to estimates compiled by FactSet StreetAccount. This includes approximately 435,900 Tesla Model 3 sedans and Model Y SUVs.
Tesla reported deliveries of 435,059 vehicles and production of 430,488 vehicles during the same period last year (before selling the Cybertruck). Recently, Tesla announced that it would deliver 443,956 vehicles and produce 410,831 vehicles in the second quarter of 2024.
If Tesla meets analysts’ expectations, Tesla’s deliveries would rise 6.5% annually, following declines in the first and second quarters of 2024.
Deliveries are not defined in Tesla’s financial disclosures, but they are the closest approximation to the company’s reported sales.
As it did earlier this year, Tesla continued to offer various incentives and financing programs in the third quarter to drive sales, especially in mainland China, the world’s largest electric vehicle market.
Tesla has not given specific guidance for full-year deliveries in 2024, but the company said it expects delivery growth this year to be lower than last year. Wells Fargo pointed to the lack of guidance and said in a report that it expected Tesla to deliver 1.63 million vehicles for the full year and about 440,000 vehicles in the third quarter, below market expectations.
Goldman Sachs said last week it expected Tesla deliveries and production “to be in line with consensus, driven primarily by strength in China.” Goldman Sachs recommends buying call options ahead of Wednesday’s report.
Robot taxi day takes center stage
The electric-vehicle maker, whose shares have risen more than 20% in the past month, expects delivery numbers to likely improve both year-over-year and quarter-over-quarter in the third quarter and ahead of the company’s Robotaxi Day on Oct. 10.
Tesla plans to host investors and fans at its ‘We, the Robots’ marketing event Warner Bros. Discovery Film studios in Los Angeles.
The automaker is expected to show off the design of a “purpose-built robotaxi,” which Musk has previously called CyberCab. Tesla may also provide updates on its humanoid robot project “Optimus” and other automotive and artificial intelligence-driven products and services.
Tesla’s electric vehicle sales and revenue declined in the first half of 2024, and the company has still not launched an autonomous driving system that can act as a robot taxi without a human driver being ready to steer or brake. Tesla also Rename Its advanced driver assistance option is Full Self-Driving Supervision, with a disclaimer at the end.
Meanwhile, several rivals in the self-driving car industry have begun producing robo-taxi vehicles and operating commercial robo-taxi services. Competitors include letterIt owns Waymo in the United States and Pony.ai and Baidu in China. AmazonIts subsidiary Zoox is also preparing to launch a commercial robotaxi service in the United States.
Tesla brand erosion
Some consumers’ interest in buying Tesla vehicles has been swayed by the brand’s close association with Musk.
The company’s favorability rating declined among both liberal and conservative consumers in July. Citizen science. Democratic support for Tesla fell from 39% in January to 18% in July, and Republican support for Tesla also dropped from 36% in January to 22%.
Musk, who also leads SpaceX, X and xAI, has long shared provocative posts on social media, but in recent years he has become less filtered and more vocal about his right-wing political beliefs online. .
In July, he publicly supported former President Trump and frequently posted articles on X about illegal immigration, election fraud, crime, violence and other hot topics.
He reportedly shared political misinformation and deepfakes with his large online following on Associated Press, CNN, nbc news, new york times and others. According to Facebook’s analysis, before Musk acquired Twitter (now known as X), his updates were more focused on Tesla and SpaceX. Washington Post.
Musk’s recent posts circulating on X contain false claims: Haitian Immigration In Springfield, Ohio, people are eating people’s pets. The Springfield Police Department, Ohio Gov. Mike DeWine and other local groups have said the claims are baseless.
It remains to be seen whether left-leaning customers’ views of Musk will affect deliveries this year. pew research center Democrats found to have much better opinion of electric vehicles and more likely to buy them than US Republicans
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