'Congrats Tesla Team,' Says Elon Musk As EV Giant Hits 6M Production Milestone: What Does It Mean For Q1 Deliveries?
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) celebrated producing its 6 millionth vehicle, a significant milestone that CEO Elon Musk and the team acknowledged. This achievement has led analysts to revisit their Q1 delivery estimates. While Troy Teslike suggests increasing production and delivery estimates slightly, he still expects Q1 deliveries to be below last year's 422,875 units. Gary Black predicts Tesla may have delivered around 415,000 units in Q1, considering production numbers and typical gaps between production and deliveries. Tesla's stock closed down 2.25% at $175.79.
March 31, 2024 | 3:25 pm
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Tesla's production milestone of 6 million vehicles has led to revised Q1 delivery estimates by analysts, with expectations of a slight decline from last year's figures.
The production milestone is a significant achievement for Tesla, indicating strong operational capabilities. However, analysts' expectations of Q1 deliveries being below last year's figures, coupled with a recent stock price decline, suggest a short-term negative impact on TSLA's stock. The anticipation of muted delivery numbers, especially given the demand slowdown in China, softness in Europe, and supply constraints in the U.S., further supports this outlook.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100