Tesla is gearing up to report a record number of deliveries for the third quarter, with strong sales growth in China driving the impressive performance. Analysts predict that the electric vehicle giant will deliver between 461,000 and 470,000 vehicles in the quarter ending September, reflecting significant year-on-year growth.
In August, Tesla sold 86,697 vehicles in China, marking a 37.27% increase from the previous month and positioning the company for potential record quarterly sales in the country. Despite facing challenges in Europe and the US, robust demand in China has helped Tesla maintain its position as a leading player in the market.
The upcoming Robotaxi event, originally scheduled for 8 August but postponed to 10 October, will play a crucial role in shaping Tesla’s future stock performance. The event is part of Tesla’s broader strategy to develop fully autonomous vehicles using its Full Self-Driving (FSD) technology, positioning the company in the competitive AI race.
While Tesla’s shares have experienced fluctuation this year, analysts remain optimistic about the company’s prospects. Bank of America has reiterated its “BUY” rating for Tesla with a target price of $255, while UBS maintains its “SELL” rating with a target of $197. Despite facing challenges, Tesla’s focus on innovation and expansion in key markets like China point towards a promising future for the electric vehicle manufacturer.
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