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Tesla is again growing its deliveries, courtesy of the Cybertruck's accelerating production ramp-up and the EV giant's demand-stoking incentives that have effectively countered any dampening effect from the onslaught of new competition in China. This sets the stage for a sustainable rally in Tesla shares just ahead of its upcoming robotaxi reveal event on the 10th of October.
As per Tesla's IR-compiled consensus estimate, Wall Street analysts expected the EV giant to have delivered 461,978 units in Q3 2024, with Model 3/Y deliveries alone commanding a consensus estimate of 433,800 units.
Additionally, Troy Teslike, who is known for his accurate predictions of Tesla's quarterly deliveries, expected the EV giant to have delivered 472,000 units in the just-concluded quarter, which constitutes the biggest positive delta relative to the Wall Street's consensus expectations going back to 2021.
This brings us to the crux of the matter. Just moments ago, Tesla disclosed that it delivered 462,890 units in Q3 2024 against a production level of 469,796 units. For the benefit of those who might not be aware, Tesla had delivered 443,956 units in the second quarter of the year against a production level of 410,831 units.
Under the hood, Tesla delivered 439,975 units of Model 3/Y, and 26,128 units of other models, including the Cybertruck.
At the end of Q2 2024, the company’s Days of Finished Goods Inventory (also known as global vehicle inventory days of supply)
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