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.

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