From Financial Modeling Prep: 2024-10-02 14:36:00

Tesla (NASDAQ:TSLA) shares fell 6% after announcing Q3 2024 deliveries of 462,890 vehicles, meeting estimates but disappointing investors. Production reached 469,796 vehicles, with Model 3/Y dominating at 443,668 units. Analysts note the missed opportunity for a stronger beat and look to Tesla’s AI Day on October 10 for future advancements.

Barclays highlights the delivery meeting expectations but investors wanting more. Oppenheimer notes weaker European demand offset by strong Chinese sales, with focus on Tesla’s upcoming AI Day. Wedbush sees Q3 delivery as positive progress towards 1.8 million full-year target, despite missed opportunity for a stronger beat.

Analysts express confidence in Tesla’s long-term potential in AI and autonomous driving technology, despite near-term stock pressure from delivery results. Tesla’s Q3 earnings call on October 23 expected to provide further clarity on the company’s outlook.



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