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Tesla posted its third-quarter vehicle production and deliveries report on Wednesday.
Here are the key numbers for Q3:
Total deliveries: 463k
Total production: 470k
Source: Tesla reports
The consensus according to estimates compiled by FactSet was missed by 0.1%. However, investors expected more, as the stock slipped nearly 4% after the report.
Deliveries are the closest approximation to units sold by Tesla. Hence, it’s one of the most closely watched metrics on Wall Street.
Tesla is not reporting guidance for this year’s deliveries, but executives have said they expect a lower delivery growth rate this year versus last despite the company having added a new vehicle to their line-up, like the Cybertruck, and slashed prices on some models.
Year-to-date sales are -2.3%, and 2024 looks to be the first year with total vehicle sales might possibly down.
The company faces increasing competition — here in the US but also in China. Rival companies like BYD, Geely, and others are posting record EV sales numbers.
Tesla doesn’t break down its numbers regionally or by segment other than “Model 3/Y,” which accounted for 444k produced and 440k delivered in Q3 — while everything else, including Model S, X, Cybertruck, and Tesla Semi, are gathered into the “other models” category.
Up next, investors will be watching the Robotaxi event on October 10 and the third-quarter earnings report later this month; investor eyes will be glued on profit margins.
Musk has promised Tesla self-driving cars for years, but the company has yet to deliver.
Shares of Tesla climbed 32% in the third quarter, erasing their loss for the year in the process. The stock is now up almost 4% in 2024, trailing the Nasdaq, which has gained 19%.
Investors can long Tesla using our 2x Tesla, 3x Tesla.
Alternatively, traders can short Tesla using our -1x Tesla, -2x Tesla, -3x Tesla.
Websim is the retail division of Intermonte, the primary intermediary of the Italian stock exchange for institutional investors. Leverage Shares often features in its speculative analysis based on macros/fundamentals. However, the information is published in Italian. To provide better information for our non-Italian investors, we bring to you a quick translation of the analysis they present to Italian retail investors. To ensure rapid delivery, text in the charts will not be translated. The views expressed here are of Websim. Leverage Shares in no way endorses these views. If you are unsure about the suitability of an investment, please seek financial advice. View the original at
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