This week, Tesla Inc. is likely to report deliveries, which are a proxy for sales. Wall Street thinks that the electric vehicle maker will have sold fewer cars than it did during the same time last year.
Tesla TSLA, +6.05% doesn’t say exactly when its production and deliveries report will be released, but it’s usually a few days after the end of the quarter. It will also decide at that time when its quarterly earnings report will be released, which will probably be two weeks later.
The EV maker also doesn’t report monthly numbers like some other U.S. automakers do; it reports numbers every three months instead. The numbers are also not broken down by country or region.
FactSet polled analysts and found that they think Tesla will deliver 436,000 cars in the second quarter. Most of these will be cheaper Model 3 sedans and Model Y compact SUVs. The business sold 466,000 cars in the second quarter of 2023.
Last week, analysts at RBC said they looked at data on app downloads and registrations in the U.S., China, and Europe and found even lower sales than what most people thought.
Dan Ives, an analyst at Wedbush Securities, wrote in a note on Monday that he thinks the delivery numbers will come in early on Tuesday. That ends a “very bumpy” first half of the year for the business because demand for Tesla and other EV makers has been bad.
But Ives said, “We think the China growth piece for Tesla is slowly turning around and saw a’mini rebound'” in the quarter, which helped Tesla get close to what everyone else thought.
The number of whispers is lower, between 415 000 and 420,000. This is because the main things that investors are looking forward to are a recovery in units in the second half, stable prices, growth in China, and a historic Robotaxi Day on August 8.
The S&P 500 index SPX has gone up about 15% so far this year, while Tesla shares have gone down 15%.
