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Tesla Inc., a leading consumer stock, is preparing to report its third-quarter vehicle deliveries on October 2, with expectations ranging from 465,000 to 480,000. As anticipation builds, delivery forecasts are rising, though the outlook remains cautious. UBS has increased its estimates to 470,000 deliveries, placing them toward the lower end of market expectations. This marks an upward adjustment from the 421,000 deliveries previously used in their model following Tesla's second-quarter results.
Q3 Vehicle Deliveries and Financing Promotions
During the third quarter, Tesla Inc. (NASDAQ:TSLA) delivered 106,000 vehicles in July and August, reflecting a 7% increase compared to the first two months of the second quarter. However, this figure is still 10% lower than deliveries during the same period last year, according to Autodata.
In an effort to boost sales, Tesla continues to offer financing promotions. These include offers on Model Y and Model 3 vehicles, such as $0 due at delivery and an annual percentage rate (APR) as low as 2.49% for loans ranging from 36 to 72 months on the Model Y, and 36 to 60 months on the Model 3. Additionally, Tesla introduced a 1.99% APR financing option in Canada, which analysts believe could drive sales in the region.
Energy Storage and Future Focus
Though Tesla's vehicle deliveries are often the main focus, the company also reports on its energy storage business. For the third quarter, consensus expectations for energy storage deployments stand at 9 GWh, slightly below the 9.4 GWh deployed in the second quarter of 2024. However, analysts have noted that energy storage deployments can fluctuate significantly. UBS is projecting a figure slightly below the consensus, estimating just under 8 GWh for the quarter.
Once Tesla's Q3 deliveries are announced, attention is expected to shift to the company's Robotaxi event on October 10. Another important factor for Tesla moving forward is the impact of the U.S. election, particularly as the company benefits from the Biden administration’s Inflation Reduction Act (IRA), which supports electric vehicle initiatives.
