Wall Street expects Tesla to report deliveries of roughly 200,000 vehicles in the latest quarter, which would be a milestone for the electric-car maker. Deliveries are one of the most closely watched indicators at Tesla; they support its financial results and are widely seen as a barometer of consumer demand for Electric Vehicles as a whole because the company is the market leader in battery-powered cars.
Analysts expect Tesla to report deliveries of 204,160 vehicles in the second quarter. The company typically sells cars right up until midnight on the last day of the period, which ended Wednesday. The company could announce production and delivery figures as soon as Friday. It delivered a record 184,800 cars in the first quarter.
Tight inventory, a global chip shortage, and congestion at ports have weighed on automakers as the world slowly emerges from the pandemic. But Tesla likely managed inventory and matched output to meet consumer demand for its EVs.
Tesla currently makes the Model S and X at its factory in Fremont, California, while the smaller Model 3 and Y are assembled both there and at its plant in Shanghai. The company doesn’t break out sales by region, but the U.S. and China are its largest markets, and the vast majority are of the Model 3 and Y. The strength of deliveries in China, where Tesla’s reputation has taken a hit of late, will be critical.
Tesla didn’t make any Model S or X vehicles in the first quarter. But in June, Musk held an event at the California factory to celebrate the introduction of the Model S Plaid edition, a refreshed and faster version of the company’s flagship sedan. Analysts and investors will be keen to see how many higher-margin Model S vehicles were made and delivered, though Tesla doesn’t break the Model S out separately.
We love to hear new ideas from traders and want to know what you think!
If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.