By Tesla (TSLA) is poised to deliver third quarter deliveries as early as Wednesday, a result that could push the stock beyond the strong recent gains it has already seen.
Wall Street expects Tesla to deliver around 461,000 electric vehicles globally in the third quarter, with annual delivery estimates coming in at 1.79 million, per Bloomberg. This figure would be a sequential improvement from the second quarter when Tesla delivered approximately 444,000 vehicles; however, it would be below the 466,000 EVs delivered a year ago.
Tesla stock is up over 20% in the past month, fueled by optimism about its upcoming robotaxi event on Oct. 10 and good news coming out of China indicating rising sales there.
A strong third quarter delivery report would also assuage fears of a “notably lower” annual vehicle growth rate, which Tesla warned about after Q1.
Wall Street analysts agree with the narrative of improving sales and, in some cases, have boosted expectations.
Piper Sandler analyst Alexander Potter raised his delivery estimates, and now sees deliveries of 459,000 EVs globally, with a full-year forecast of 1.75 million units. While Potter’s estimate is still slightly below consensus, Potter believes Tesla may report its best quarter ever in China.
Barclays analyst Dan Levy sees deliveries topping 470,000 units in Q3, easily beating estimates. Levy and Barclays cite July data for global EV sales and China sales based on August registrations and production data.
Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.
