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Tesla Inc. (TSLA) is set to announce its third-quarter delivery and production numbers on Thursday, with Wall Street estimating 448,000 vehicles delivered, down from 462,890 in the same quarter last year. The current delivery figures show a 4% decline over the past year.
Shares of Tesla have increased by over 30% in September, following Elon Musk’s announcement of stepping back from politics. This recovery comes amid challenges like slowing electric vehicle (EV) growth and increased competition, including from companies like Alphabet’s Waymo in the robotaxi market.
Market analysts predict a possible delivery beat, with betting markets estimating deliveries at 505,000 units for Q3. Factors contributing to this potential include a rush to secure the $7,500 EV tax credit before its potential expiration, the successful launch of Tesla’s updated Model Y, and economic recovery in China, which accounts for approximately 22% of Tesla’s revenue.
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