Summary
– Tesla set to report quarterly deliveries for Q2 2024 in next two days
– Analysts expect an increase in deliveries from last quarter but a decrease compared to same quarter in 2023
– Robotaxi unveiling in August may bring short-term optimism
– Cybertruck production increase expected to grow deliveries over next few years
– With CEO pay package resolved, Tesla can focus on growth and execution of plans
Article
Tesla is preparing to report its deliveries for the second quarter of 2024, with Wall Street analysts providing their estimated figures for the period. After a disappointing first quarter with deliveries falling below 400,000 for the first time in years, Tesla has a lot riding on the upcoming numbers. Analysts are predicting a jump in deliveries from the previous quarter but a decrease compared to the same period in 2023, with expectations set at 438,019 deliveries.
There are contrasting viewpoints on how to interpret Tesla’s upcoming quarterly figures. Some are optimistic, citing Tesla’s admission that it is transitioning between growth periods and the increasing interest in hybrid-electric vehicles over fully electric ones. On the other hand, pessimists point to mainstream media articles prophesizing the downfall of Tesla. The unveiling of the Robotaxi in August is expected to boost optimism in the short term, but true growth hinges on the completion of Full Self-Driving and achieving Level 5 autonomy, which could significantly enhance Tesla’s financial standing and sales figures.
To drive growth in the coming years, Tesla is expected to increase production of its Cybertruck, provided it can efficiently scale up production. The company recently reported reaching a build rate of 1,000 units per week at the end of April. With CEO Elon Musk’s pay package no longer a distraction, Tesla can focus on execution and prioritizing growth. Analysts believe that achieving Level 5 autonomy and expanding the company’s vehicle lineup will be key factors in driving Tesla’s future success.
As Tesla prepares to report its Q2 deliveries, all eyes are on the expected figures and the potential impact on the company’s stock performance. Optimistic and pessimistic viewpoints clash on how to interpret Tesla’s current position and future prospects. Despite challenges, such as shifting consumer preferences and competition in the EV market, Tesla has the potential for significant growth through the completion of Full Self-Driving and increased production of vehicles like the Cybertruck. With distractions out of the way, Tesla is in a position to focus on executing its growth strategies and capitalizing on opportunities in the electric vehicle market.
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