Tesla Set to Impress with Robust Third Quarter Deliveries

3 min read | September 28, 2024 05:11 AM AEST | By Team Kalkine Media

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Highlights

Tesla is expected to report strong vehicle deliveries for the third quarter, potentially exceeding market expectations after a challenging first half.

The company is benefiting from increased demand in China and improved leasing options, suggesting a significant rebound in the latter half of the year.

Analysts foresee a positive financial outlook, with a potential recovery in gross margins and upcoming updates on Tesla's Full Self-Driving technology expected to drive future growth.

Tesla Inc., a leading player in the automobile sector, is set to report robust vehicle delivery numbers for the third quarter, potentially exceeding market expectations. Analysts from Wedbush anticipate deliveries ranging between 465,000 and 470,000 units, surpassing the projected 462,000. This performance is viewed as a pivotal moment for Tesla following a challenging first half of the year, marked by weaker demand for electric vehicles (EVs) across the industry.

After experiencing a rocky start to the year, Tesla Inc. (NASDAQ: TSLA) appears poised for a significant rebound in the second half. The recent quarter is anticipated to showcase improvement as the company capitalizes on the growing demand in China and the stabilization of pricing dynamics. Wedbush notes that favorable leasing and financing options, coupled with pent-up demand in the Chinese market, are driving this optimism. The analysts predict that the third quarter will reveal impressive growth figures from this key region, particularly following a series of record months leading up to late September.

While challenges persist in Europe due to EU subsidies and broader macroeconomic pressures, Wedbush believes these hurdles will be mitigated by stabilization in U.S. demand and improving conditions in other global markets. Notably, China is expected to lead the charge in driving Tesla's growth during this period.

Looking ahead, Wedbush estimates that Tesla will achieve approximately 1.8 million deliveries for the fiscal year, a remarkable accomplishment given the turbulence experienced earlier in the year. The upcoming Robotaxi event on October 10 is also anticipated to provide crucial updates on Tesla's Full Self-Driving (FSD) technology and advancements in artificial intelligence.

With the price cuts largely behind them, analysts foresee a rebound in gross margins, indicating a more favorable financial outlook for Tesla. The company's performance in the third quarter could signify a turning point, fueled by a supportive market environment and ongoing innovations in technology. This renewed focus on growth and profitability positions Tesla well for the future as it navigates the evolving landscape of the automotive industry.

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