Posted on Jul 2, 2023
Tesla (TSLA) is gearing up to release its delivery results for Q2 2023 in the coming days. Wall Street analysts predict another record quarter for the electric vehicle (EV) giant in terms of deliveries.
Tesla stands alone as a global automaker delivering high volumes of EVs and shows no signs of slowing its pace. The company has already delivered three record-breaking quarters consecutively, and expectations are high for a fourth.
The consensus among analysts for Q2 is that Tesla will deliver approximately 448,000 vehicles. This figure represents a 6% increase from the previous quarter when Tesla delivered 422,000 vehicles.
Compared to the 254,000 vehicles delivered in Q2 2022, this estimate marks a significant year-on-year growth. However, comparing this with the previous year's results may not provide a fair assessment as Tesla had to enforce a factory shutdown in China during Q2 of 2022 due to COVID-19 restrictions.
If these predictions are accurate, Tesla's total deliveries for 2023 would amount to approximately 870,000 units. To fulfill its guidance of delivering 1.8 million vehicles for the year, Tesla would need to average half a million vehicle deliveries per quarter in the second half of 2023.
The anticipated delivery record for this quarter can be attributed to further price cuts and discounts on inventory vehicles. However, while Wall Street tends to be accurate with delivery estimates, predicting Tesla's profitability has proved to be a more difficult task due to these price cuts.
Tesla is set to release its production and delivery results on Sunday, providing a clearer picture of the EV manufacturer's progress.
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