Tesla is facing an extremely successful quarter in China, which has led to a wave of increased sales forecasts among Wall Street analysts. At least four analysts have revised their estimates for delivery figures in the third quarter of 2024 upwards. This indicates that the Chinese market, which is considered a key region for electric vehicles, is set for Tesla performing better than expected.
Sales surge in China defies weakening markets in Europe and the USA
China, the largest market for electric vehicles, plays a crucial role in Tesla's growth strategy. While the company is experiencing declining sales in the USA and Europe, China continues to record strong sales figures. Analysts such as Dan Levy from Barclays are now forecasting deliveries of 470,000 vehicles for the third quarter, which is significantly higher than the previously estimated figure of 462,000. Other analysts, such as Alexander Potter from Piper Sandler, Tom Narayan from RBC Capital Markets and Ben Kallo from Baird, are forecasting similar or even higher figures - some expect up to 480,000 units.
The strong demand in China comes at a time when Tesla is facing challenges in other markets, particularly from increasing competition and economic uncertainty. However, a solid sales figure in the third quarter could dampen concerns about slowing demand and growing pressure from lower-priced rivals.
Robotaxi event: the next big one Tesla-step?
While analysts and investors are eagerly awaiting the sales figures for the third quarter, attention is increasingly turning to the upcoming Robotaxi event on October 10, 2024. Tesla is expected to present its groundbreaking technology for autonomous driving there. Analysts believe that this event will be important for the future of Tesla future, as it could herald a completely new era of driving.
Ben Kallo from Baird sees an attractive starting position for Tesla the fourth quarter and expects that delivery figures could be in line with or even exceed expectations. Should this be the case, it would further strengthen confidence in Tesla's core business - also against the backdrop of the eagerly awaited Robotaxi event.
Tesla-Shares remain volatile, but hope remains
The Tesla-share has had a rollercoaster ride this year. While the broad market - as measured by the S&P 500 Index - has risen by more than 20 %, the Tesla only recorded a plus of 2 %. Since August, however, shares have recovered by around 33 %. The reasons for this are improved market sentiment and hopes of falling interest rates, which could lead to an increase in demand, particularly in the automotive sector.
Tesla-CEO Elon Musk has repeatedly pointed out the burden of high borrowing costs, which can dampen demand for expensive products such as electric vehicles. If interest rates are lowered by the US Federal Reserve (Fed), this could result in a significant boost in demand. In addition, economic measures in China could also have a positive effect on sales figures.
Opportunities for a strong end to the quarter
Looking ahead to the third quarter and the upcoming Robotaxi presentation, the chances of a strong end to the quarter are good. Tesla good. Forecasts point to stable sales figures, which should be a positive signal for investors even in a tense market environment. The future of Tesla in China remains promising and analysts are optimistic that the company will continue on its path to success.
Keywords: Tesla China, Tesla sales forecasts, Tesla quarterly figures, Tesla Robotaxi Event, Tesla analysts, Tesla electric vehicles, Tesla Grünheide, Tesla deliveries, Tesla shares, Tesla growth, Tesla, Tesla Model Y, Tesla Model 3
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If you’re already more proud Tesla-Driver are or should be in a timely manner, visit our online shop Shop4Tesla and secure 10% Discount on all products with the discount code: NEWS4TESLA.In our extensive range you will find a variety of high-quality Tesla-Accessories for every model Discover exciting innovations and accessories that will Tesla-Make the experience even better - www.shop4tesla.com.
