Tesla is gearing up to announce record third-quarter sales next week, with experts predicting strong numbers, largely fueled by robust demand in China. Analysts estimate that the company will deliver between 461,000 to 470,000 vehicles in the quarter ending in September, marking a significant year-on-year increase. Sales in China have been particularly strong, with Tesla selling 86,697 vehicles in August, the highest monthly figure for 2024.
Despite this growth, Tesla’s overall performance in China still lags behind competitors like BYD and Geely. The company is expected to continue its momentum in September, with a potential monthly sales volume exceeding 63,000 units. The upcoming focus on the Robotaxi event, set for 10 October, will also shape Tesla’s future stock trends. The event will highlight Tesla’s push towards fully autonomous vehicles using Full Self-Driving technology, positioning it within the AI race.
While Tesla shares have seen a slight increase this year, the company remains the weakest performer among the “Magnificent Seven” stocks. However, positive sales expectations in China and the upcoming Robotaxi event could drive stock prices higher. Bank of America has reiterated its “BUY” rating for Tesla, setting a target price of $255, while UBS maintains its “SELL” rating with a target of $197. With Tesla’s continued focus on innovation and expansion, investors will be closely watching the upcoming delivery numbers and the Robotaxi event to gauge the company’s future success.
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