Summary
- Tesla reported delivering 462,890 vehicles in Q3, slightly exceeding Wall Street expectations
- The company also produced 469,796 vehicles and deployed 6.9 GWh of energy storage
- This represented a six percent increase in deliveries year over year
- Analysts were expecting around 462,000 deliveries for the quarter
- Tesla is aiming to potentially reach 1.8 million deliveries for the year and will hold a Robotaxi unveiling event on October 10
Article
Tesla reported delivering 462,890 vehicles in the third quarter, slightly surpassing Wall Street consensus numbers of 462,000. The company also had a strong quarter for energy deployments, with 6.9 GWh being deployed for the quarter. In addition to the deliveries, Tesla produced 469,796 vehicles in Q3. This marks a six percent increase in deliveries year over year and a four percent increase from the previous quarter. The company is still aiming to potentially reach 1.8 million deliveries for the year, despite having previously stated that annual growth would slow down as it focused on the next-generation platform.
Wedbush analyst Dan Ives has expressed confidence in Tesla’s ability to hit the 1.8 million delivery mark for FY24. He views this as a solid feat given the challenges experienced in the first half of the year. Various analyst consensus numbers have been floating around, ranging from 461,000 to 463,897 deliveries for the quarter. Tesla’s Energy division also had a strong quarter, reporting its second-highest deployment of 6.9 GWh. This comes after a record 9.4 GWh deployment in Q2. Looking ahead, Tesla will hold its Robotaxi unveiling event on October 10.
Overall, Tesla’s performance in Q3 was positive, with deliveries meeting and slightly surpassing expectations. The company’s focus on production and deliveries has remained steady as it aims to reach 1.8 million deliveries for the year. Analysts and industry experts remain confident in Tesla’s ability to achieve this goal, despite challenges and shifts in focus within the company. The Energy division also showed strength in Q3 with impressive deployment numbers. Tesla’s upcoming Robotaxi unveiling event is set to generate further interest and excitement in the company’s future plans and developments.
Read the full article here
