Tesla's electric cars are selling great, but analysts expected more: the company released its third quarter 2024 report
Electric cars are rapidly gaining popularity and are actively replacing cars with internal combustion engines from the market.
One of the leaders in this area is Tesla. The company published a report for the third quarter of this year, which shows good results, but analysts expected more.
Here's What We Know
The company reported that for the third quarter of 2024, Tesla's deliveries reached 462,890 thousand electric cars and production totalled 469,796 thousand.
These are decent numbers, but analysts at FactSet StreetAccount expected deliveries to be 463,310 thousand units, while LSEG experts predicted deliveries of 469,828 thousand cars.
In turn, a well-known analyst under the nickname Troy Teslike thought that Tesla would deliver 472,000 cars in the third quarter of 2024.
Thus, the actual sales figures turned out to be slightly lower than the analysts expected, but in any case, it is more than for the same period last year (435,059 thousand cars delivered) and the second quarter of 2024 (443,956 thousand cars delivered).
To reach its annual targets, Tesla needs to sell 514,925 cars in the fourth quarter, Troy Teslike calculated. Well, perhaps the company will be able to achieve the desired results, as the number of cars sold traditionally grows towards the end of the year and Christmas holidays.
Tesla needs 514,925 sales in Q4 to match last year's total. This means they'll need to increase sales by 11.2% this quarter, compared to the 462,890 units delivered in Q3 2024, which was announced today.
- Troy Teslike (@TroyTeslike) October 2, 2024
Q4 is typically Tesla's strongest quarter of the year. Looking at the last...
