Tesla shares slip 1% as analysts forecast 7% Q3 delivery decline

  • Tesla shares declined roughly 1% Tuesday as investors awaited Q3 delivery figures.
  • 463,000 vehicles is the analyst consensus, representing a 7% year-over-year decrease.
  • Tesla postponed its Roadster unveiling from October 1 to October 15 because of severe weather.

Tesla shares fell roughly 1% Tuesday to about $354 as investors awaited the electric-vehicle maker’s Q3 delivery report, expected Friday. Analysts see deliveries near 463,000 vehicles, down 7% from the 497,000 reported a year earlier, when a $7,500 federal electric-vehicle tax incentive supported demand. JPMorgan lowered its forecast to 482,000 vehicles, citing weakness in the American and Chinese markets. Chinese wholesale volumes rose 19% in July and August, supported by a 92% jump in exports, but domestic retail sales fell 21%. European Union registrations declined about 9%, with France and Germany holding up better than the United Kingdom, Italy and Spain. Tesla said supervised Full Self-Driving (driver-assisted driving software) subscriptions reached 1.48 million by the end of Q2, up 56% year over year. The company also postponed its Roadster unveiling from October 1 to October 15 because of anticipated severe weather. The next-generation Roadster was first introduced in 2017, and early reservation holders have already waited several years beyond the originally expected 2020 deliveries.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.