- Tesla published sales estimates showing Q4 vehicle deliveries may fall below investor expectations
- Analysts expect Tesla to deliver about 422,850 cars in Q4, down 15% year-over-year
- Tesla’s average delivery estimate for 2023 is 1.6 million vehicles, down over 8% from 2022
Tesla Inc. took the unusual step of publishing a series of sales estimates indicating the outlook for its vehicle deliveries may be lower than many investors were expecting.
The carmaker posted estimates to its website showing analysts on average expect the company to deliver 422,850 cars in the fourth quarter, down 15% from a year earlier. That compares with a Bloomberg-compiled average of 440,907 vehicles, an 11% drop.
While Tesla's investor relations team has compiled sales estimates and shared averages selectively with analysts and investors for years, the company hasn't published the figures in the past.
“This is highly unusual,” Gary Black, co-founder of Future Fund Advisors, wrote on X. “Obviously, someone at TSLA wanted the IR-derived consensus to be distributed as widely as possible,” he added, speculating that Tesla's deliveries are likely to be in the range of 420,000 vehicles.
Tesla is on course for its second consecutive drop in annual vehicle sales, with the company compiling an average estimate for 1.6 million deliveries, down more than 8% from a year earlier. The carmaker's estimates for the next three years are also lower than averages compiled by Bloomberg.
The company's shares fell as much as 1.3% on Tuesday before erasing the decline.
Tesla's stock is poised to end the year higher despite its vehicle sales slump. The shares were up 14% through Monday's close, trailing the 17% rise in the S&P 500 Index.
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