As Tesla approaches the end of its third quarter, Wall Street analysts are adjusting their delivery predictions for the electric vehicle maker. Investment firms are revising their estimates upward as the company pushes to meet its sales targets for the period ending September 30.
UBS, a major Wall Street firm, recently increased its Tesla Q3 delivery forecast. The bank’s analysts now expect Tesla to deliver 475,000 vehicles during the quarter. That’s up from their previous estimate of 431,000 units. The revision represents a significant jump of 44,000 vehicles, or about 10% higher than the firm’s earlier prediction.
UBS raised its Tesla Q3 delivery forecast to 475,000 vehicles, up 44,000 units from its previous estimate.
The upward revision suggests growing confidence in Tesla’s ability to move vehicles off dealer lots and into customers’ driveways. Tesla’s third-quarter performance matters to investors who closely watch delivery numbers as a key indicator of the company’s health and growth path.
Tesla typically reports its quarterly delivery figures within the first few days after a quarter ends. These numbers include all vehicles that were manufactured and handed over to customers during the three-month period. The company counts a delivery when a vehicle is transferred to the customer and all paperwork is complete.
The electric vehicle maker has faced various challenges throughout 2024, including increased competition from other automakers and changing demand patterns in key markets. Despite these headwinds, Tesla has maintained its position as the world’s largest electric vehicle manufacturer by volume. The upcoming expiration of the $7,500 EV tax credit has created urgency among buyers looking to take advantage of the federal incentive before it phases out.
Delivery numbers don’t tell the whole story about Tesla’s financial performance. The company’s actual revenue depends on the mix of vehicles sold, since different models carry different price tags and profit margins. Tesla sells several models including the Model 3 sedan, Model Y SUV, Model S luxury sedan, and Model X luxury SUV.
Wall Street pays close attention to Tesla’s quarterly deliveries because they provide an early glimpse into the company’s financial results. Strong delivery numbers typically elevate investor confidence and can drive the stock price higher. Conversely, disappointing deliveries often lead to stock price declines.
The final Q3 delivery numbers will reveal whether Tesla met, exceeded, or fell short of these revised analyst expectations.