- Tesla’s 3Q deliveries were 435,059, missing the estimated 456,722.
- Model S/X deliveries were 15,985, below the estimated 17,722.
- Model 3/Y deliveries were 419,074, falling short of the estimated 439,362.
- Total production was 430,488 vehicles, lower than the estimated 461,992.
- Model S/X production was 13,688, significantly less than the estimated 18,492.
- Model 3/Y production was 416,800, not reaching the estimated 454,060.
- Shares dropped 3% premarket after 3Q deliveries miss.
- The 2023 Volume target of about 1.8 million vehicles remains unchanged.
- A sequential decline in volumes was caused by planned downtimes for factory upgrades.
- Shares fell by 2.7% in pre-market trading to $243.56 on 620,179 shares traded.
- There were 23 buys, 20 holds, and 9 sells.
Tesla Motors on Smartkarma
Analysts on Smartkarma have been closely covering Tesla Motors, and their research reports have been largely divided between bullish and bearish sentiment. Analyst Vicki Bryan reported that market consensus estimates for Tesla’s Q3 deliveries have been falling so hard and fast they now approach her formerly well below market estimate. Meanwhile, Baptista Research reported that Tesla managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, achieving an all-time high in vehicle production, deliveries, and revenue. On the other hand, Kevin George reported that there is potential for Chinese brands to encroach on European markets, and Vicki Bryan also reported that Tesla’s Q2 deliveries were solidly higher versus expectations, due to 11th hour fire sales. Finally, Vicki Bryan also reported that prices have been slashed and slashed again, on top of expensive incentives, but Tesla has been unable to ease elevated inventory in key markets.
A look at Tesla Motors Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Tesla Motors is well-positioned in the automotive and clean energy industry, with a strong outlook for the future. This is reflected in the company’s Smartkarma Smart Scores, which give Tesla a Value score of 2, a Dividend score of 1, a Growth score of 5, a Resilience score of 4, and a Momentum score of 4.
Tesla Inc. is a multinational automotive and clean energy company that designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. With a strong score across the board, Tesla Motors is well-positioned to continue its success in the industry. The company’s impressive scores indicate that it has a long-term outlook that is both resilient and growing, with continued momentum in the future.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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