Summary
- Tesla reported 462,890 vehicle deliveries in Q3
- Debate over whether it was a delivery beat or miss
- Reports conflicted on Wall Street consensus numbers
- Analysts had varying opinions on the delivery figures
- Tesla is working to offset a planned slowdown in annual growth with new vehicle designs and innovations
Article
Tesla reported delivering 462,890 vehicles in Q3, sparking confusion over whether it was a beat or a miss based on Wall Street consensus. Different outlets reported varying estimates, with Tesla’s Investor Relations initially stating the consensus at 462,000. However, the number shifted to 463,000 on the day of the announcement, causing some to view it as a slight miss. Even bullish analyst Ives had his consensus figures shift, noting that Tesla’s reported figure was in line with estimates but fell slightly short of expectations. Despite this, Tesla’s delivery figures indicate a step in the right direction and are seen as an improvement from the first half of the year.
Tesla’s struggle to offset its planned slowdown in annual growth due to its focus on the next-gen platform is evident. While reaching the 2 million mark may take another year or two, the company is looking to maintain demand with updated vehicle designs such as the Model 3 Highland and the more affordable Single-Motor Cybertruck planned for 2025. The outlook for true growth prior to the Robotaxi rollout is still uncertain, but Tesla is banking on a strong Q4 performance and its upcoming Robotaxi unveiling event to keep investors optimistic through the rest of 2024.
The varying estimates from different sources highlight the uncertainty surrounding Tesla’s Q3 delivery figures and the impact on investor expectations. The consensus figure shifted on the day of the announcement, leading some to view the reported numbers as falling slightly short of expectations. Analysts like Ives noted that the delivery figures, while on par with estimates, did not provide the desired upside that investors were hoping for. Despite this, the overall sentiment is positive, with the numbers representing an improvement from previous quarters.
Tesla’s ongoing battle to maintain growth amid a planned slowdown in annual growth is evident in the Q3 delivery figures. The company is looking to introduce new vehicle designs and updates to keep demand high and potentially delay the anticipated slowdown in growth. The outcome will be closely watched, with Tesla’s performance in Q4 and the upcoming Robotaxi unveiling event expected to have an impact on investor confidence going forward. The company’s focus on innovation and new products will play a crucial role in shaping its growth trajectory in the coming years.
Overall, Tesla’s Q3 delivery figures have sparked debates over whether it was a beat or a miss based on Wall Street consensus. The varying estimates and shifting consensus numbers have added to the uncertainty surrounding the announcement. Despite falling slightly short of some expectations, Tesla’s reported figures indicate a positive step in the right direction and are seen as an improvement from previous quarters. The company’s focus on innovation and new product offerings will play a key role in determining its growth trajectory moving forward. Investors will be closely watching Tesla’s performance in Q4 and beyond to gauge its success in maintaining demand and offsetting the planned slowdown in annual growth.
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