Tesla Inc has been a top-performing large-cap stock in 2024, with shares up 70% year-to-date. The company is expected to report fourth-quarter delivery and production figures, which will put the stock in the spotlight early in 2025.
Tesla Delivery Estimates
All eyes will be on Tesla as the company is expected to report fourth-quarter delivery and production figures. According to new consensus estimates from analysts, Tesla is expected to report fourth-quarter deliveries of 506,763 units, consisting of:
- 476,398 Model 3 and Model Y vehicles
- 31,755 other vehicles
These estimates are based on input from 26 analysts and would bring the total deliveries for the year to 1,801,709 units.
Recent Estimates from Analysts
Recent estimates from analysts include:
- Goldman Sachs’ Mark Delaney: estimating fourth-quarter deliveries of 510,000 units, with a Neutral rating and $250 price target.
- UBS analyst Joseph Spak: estimating Tesla will report fourth-quarter deliveries of 515,000 units, with a Sell rating and $226 price target.
Why It’s Important
Tesla has said it expects its growth rate to be lower for deliveries in 2024 than in past years. The new analyst consensus figures show the company may not post year-over-year growth and see declines in delivery units for the full year. If Tesla is able to beat the consensus estimate, it may be the result of huge financing offers and incentives during the final month, which could put pressure on automotive margins.
Upcoming Events
Tesla is set to report its fourth-quarter financial results later in January, with delivery figures likely to increase focus on key areas such as:
- Margins
- Tesla Energy
- Progress on FSD
After the delivery and earnings catalyst are over, investors and analysts may want to hear more about what’s ahead, like:
- FSD timeline
- Potential licensing deals to other automotive companies
- Timeline update on robotaxis
TSLA Price Action
Tesla stock is down 1% to $413.47, with a 52-week trading range of $138.80 to $488.54. Tesla stock is up 70% year-to-date in 2024.
Conclusion
Early January catalysts could either sustain the stock’s momentum or quickly set a challenging tone for the rest of the year. Investors will be watching closely to see how Tesla’s delivery and production figures impact the company’s stock price and overall performance.