Tesla Signals Lower Deliveries

Benzinga

Tesla published analyst delivery estimates showing weaker-than-expected Q4 vehicle deliveries, an unusual move that suggests the company aimed to reset investor expectations as it faces a second straight annual decline, according to Bloomberg.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Tesla published a series of sales estimates on its website showing that analysts expect

00:07lower vehicle deliveries than many investors anticipated, according to Bloomberg.

00:12The company said analysts on average expect 422,850 deliveries in the fourth quarter,

00:19down 15% from a year earlier. That compares with a Bloomberg compiled average of 440,907 vehicles,

00:27an 11% decline. Tesla has shared compiled estimates with analysts before,

00:34but has not published them publicly in the past. Gary Black of Future Fund Advisors said

00:40Tesla's decision to publish investor relations delivery estimates was unusual and suggested

00:45the company wanted lower delivery expectations widely shared. The company is on track for a

00:50second straight annual decline, with its average estimate showing 1.6 million deliveries,

00:55down more than 8% year over year. Shares fell as much as 1.3% Tuesday before recovering

01:01and were up 14% for the year through Monday. For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended