Summary
- UBS analyst Joseph Spak expects Tesla to report 510,000 vehicle deliveries in Q4 2024
- Barclays analysts predict Tesla will deliver around 515,000 vehicles in Q4 2024
- Tesla’s company-compiled consensus anticipates 506,763 vehicle deliveries for Q4 2024
- UBS maintains a "Sell" rating on Tesla stock with a $226 price target
- Q4 2024’s delivery figures may not be as important due to Tesla’s focus on artificial intelligence
Article
Tesla is expected to report its fourth quarter 2024 vehicle delivery report, and analysts have shared their estimates for the electric vehicle maker’s performance during this period. UBS analyst Joseph Spak expects Tesla to report vehicle deliveries of 510,000 units for the fourth quarter, which would represent a 5% year-over-year and 10% quarter-over-quarter increase. However, this mark falls 1% below the analyst consensus of 512,000 units. Despite the potential miss, Spak believes that Q4 deliveries might not be as impactful as in the past due to Tesla’s shift in focus towards artificial intelligence. Spak maintains a “Sell” rating and a $226 price target on Tesla stock.
Barclays analysts are slightly more optimistic about Tesla’s fourth quarter deliveries, projecting around 515,000 vehicle deliveries for the quarter. Similar to Spak, the Barclays analysts also acknowledge that the raw vehicle delivery figures for Q4 2024 may not carry as much weight as they have in the past. There is a consensus among investors that this Q4 volume print is relatively lower in importance compared to previous quarters.
According to Tesla’s company-compiled consensus, analysts anticipate that the company will report 506,763 vehicle deliveries for the fourth quarter of 2024. This includes 476,398 deliveries for Model 3 and Model Y, as well as 31,755 deliveries for other models. In total, Tesla is projected to deliver 1,801,709 vehicles worldwide in 2024. This figure is slightly lower than the number of vehicles delivered by Tesla in 2023, which was 1,808,581 globally.
Despite the variations in estimates among different analysts, there is a general understanding that Tesla’s Q4 2024 vehicle delivery figures may not carry the same significance as they have in the past. With the company’s narrative shifting towards artificial intelligence and other technological advancements, the focus on quarterly delivery reports may diminish. However, Tesla’s overall performance and progress in the electric vehicle market will still be closely monitored and analyzed by investors and analysts.
As Tesla prepares to release its Q4 2024 vehicle delivery report, analysts and investors will be paying close attention to the actual numbers and how they align with the various estimates and projections. While there may be slight discrepancies in expectations, the overarching goal is to assess Tesla’s performance and trajectory in the competitive electric vehicle market. The company’s continued innovation and expansion efforts, particularly in the realm of artificial intelligence, are likely to shape its narrative and influence investor sentiment in the coming quarters.
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