Barclays expects Tesla’s Q3 deliveries to rise 8% year-over-year (YOY). The firm predicts Tesla will report delivering 470,000 electric vehicles (EVs)in the third quarter, more than the consensus estimate of 461,000.
In the first quarter, Tesla reported delivering a total of 386,810 units. Meanwhile, Tesla delivered approximately 443,956 vehicles in the second quarter.
In a recently released note, Barclays states that Tesla beating the consensus estimate could strengthen TSLA stock and remind investors of “dissipated concerns on fundamentals.” The firm believes that Tesla’s China sales will significantly contribute to the company’s third-quarter deliveries.
Tesla China has reported high domestic sales records over the last few weeks. In August, data from the China Passenger Car Association (CPCA) revealed that Tesla sold 86,697 vehicles domestically in August, its highest sales in 2024.
September is also shaping into a strong month for Tesla China. In the week ending on September 8, 2024, Tesla registrations hinted that the company sold 16,200 units. The week between September 9-15, 2024, Tesla registrations dipped around 3.7% with 15,600 registrations.
Registrations only provide a hint into Tesla China weekly sales. The company does not provide weekly sales figures.
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