Tesla Inc. is expected to announce record quarterly deliveries in early January but that may not be enough to satisfy investors as the electric-vehicle leader grapples with inflation, rising interest rates, crimped production in China. Know more:
Tesla Inc. is expected to announce record quarterly deliveries in early January but that may not be enough to satisfy investors as the electric-vehicle leader grapples with inflation, rising interest rates, crimped production in China and concerns about softening demand.
Deliveries are one of the most closely watched metrics by investors eager to see if Tesla can maintain its rapid growth. Global fourth-quarter deliveries could reach 420,760 vehicles, according to 16 analysts surveyed by Bloomberg. That estimate, which doesn’t include some of the more recent analyst projections, exceeds the record 343,830 cars delivered in the third quarter.
Investors are signaling skepticism. Tesla shares plunged 65 percent in 2022, more than triple the 19 percent decline in the S&P 500 Index. Ben Kallo, an analyst at Robert W. Baird, reduced his estimates for fourth-quarter and 2023 deliveries in a note this week “to account for the reported slowdown in production and a weakening macro environment.” Kallo, who has an outperform rating on Tesla shares, expects the automaker to report deliveries of 378,262 for the quarter.
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