Tesla is anticipated to report record-breaking delivery numbers for the third quarter next week, driven by strong sales growth in China. Analysts predict that Tesla will deliver over 461,000 vehicles, with Barclays raising its forecast to 470,000. Tesla’s robust sales in China are expected to offset weaker performance in the US and Europe, with the company leading the charge in the New Energy Vehicle (NEV) market. Despite a slight dip in total deliveries in China compared to last year, Tesla is poised to continue its strong sales momentum in September.
The upcoming Tesla Robotaxi event, initially scheduled for 8 August but postponed to 10 October, is set to be a key focus and could shape the company’s stock trajectory. The event is part of Tesla’s strategy to develop fully autonomous vehicles using Full Self-Driving (FSD) technology. CEO Elon Musk has hinted at the possibility of unveiling AI-driven products like Robotaxi and Optimus humanoid robots at Tesla’s Austin factory by the end of 2024. Tesla also aims to roll out FSD in China and Europe by the first quarter of 2025, pending regulatory approval.
Despite Tesla’s recent stock performance lagging behind other major tech companies, recent positive developments in China and the upcoming Robotaxi event have sparked renewed investor interest. Bank of America maintains a “BUY” rating for Tesla, setting a target price of $255, while UBS remains cautious with a “SELL” rating and a target of $197. As Tesla looks to solidify its position as a leader in the EV market, all eyes will be on the company’s delivery numbers and future developments.
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