Tesla's Shanghai gigafactory exported more than 1 million new energy vehicles.
Tesla's new energy vehicles exported overseas from the Shanghai Gigafactory have officially exceeded 1 million units. In addition, Tesla revealed that its energy storage Gigafactory in Shanghai Lingang is accelerating construction. As of the end of September, the main plant construction progress has exceeded 60%, and it is expected to be officially put into production in the first quarter of next year.
Tesla's Q3 sales figures will be released on Wednesday! The stock price has rebounded by nearly 40% from the stage low, with most major banks expecting the most robust increase to exceed 20%.
As September comes to an end, Tesla's Q3 delivery data will also be released on Wednesday (October 2 Beijing time)! In the previous Q2, Tesla delivered 0.444 million autos, higher than the expected 0.439 million autos.
For Q3 delivery data, the market generally has optimistic expectations. FactSet data shows that analysts unanimously expect Tesla's Q3 global total delivery volume to reach 0.462 million autos, a 6% year-on-year increase. Analysts also indicate that by the fourth quarter, Tesla's delivery volume will reach a record level.
Wall Street has optimistic expectations.
Several major Wall Street banks have recently raised Tesla's target price and expected delivery volume, with Piper Sandler analyst Alexander Potter even suggesting that it may achieve its best quarterly performance in China history.
Potter forecasts Tesla's Q3 delivery volume to be 0.459 million autos, with an annual delivery volume of approximately 1.75 million autos, while providing a target price of $310 for Tesla, still offering a 20% upside from the current stock price.
Barclays analyst Dan Levy also acknowledges Tesla's sales data in China, stating:
While electric car sales in Europe have been weak recently, the strong performance in the Chinese market will drive tesla deliveries to achieve a breakthrough, with an estimated Q3 delivery volume of about 0.47 million vehicles.
Tesla's sales in China have been lackluster for most of this year, but a strong rebound in August has provided strong support for Wall Street's optimistic expectations. According to data from the China Passenger Car Association, in August, Tesla's Shanghai Gigafactory delivered 86,697 vehicles, a 17% increase from the previous month; domestic sales in August were 0.063 million vehicles, setting a new monthly sales record in the country this year, with a 37% increase from the previous month.
Deutsche Bank, which has been bearish on the long-term trend of tesla's stock price, recently resumed its 'buy' rating on tesla and listed it as the preferred stock in the auto industry. In addition, Deutsche Bank resumed tesla's target price tracking, giving tesla a target price as high as $295.
For Q3 delivery data, the market generally has optimistic expectations. FactSet data shows that analysts unanimously expect Tesla's Q3 global total delivery volume to reach 0.462 million autos, a 6% year-on-year increase. Analysts also indicate that by the fourth quarter, Tesla's delivery volume will reach a record level.
Wall Street has optimistic expectations.
Several major Wall Street banks have recently raised Tesla's target price and expected delivery volume, with Piper Sandler analyst Alexander Potter even suggesting that it may achieve its best quarterly performance in China history.
Potter forecasts Tesla's Q3 delivery volume to be 0.459 million autos, with an annual delivery volume of approximately 1.75 million autos, while providing a target price of $310 for Tesla, still offering a 20% upside from the current stock price.
Barclays analyst Dan Levy also acknowledges Tesla's sales data in China, stating:
While electric car sales in Europe have been weak recently, the strong performance in the Chinese market will drive tesla deliveries to achieve a breakthrough, with an estimated Q3 delivery volume of about 0.47 million vehicles.
Tesla's sales in China have been lackluster for most of this year, but a strong rebound in August has provided strong support for Wall Street's optimistic expectations. According to data from the China Passenger Car Association, in August, Tesla's Shanghai Gigafactory delivered 86,697 vehicles, a 17% increase from the previous month; domestic sales in August were 0.063 million vehicles, setting a new monthly sales record in the country this year, with a 37% increase from the previous month.
Deutsche Bank, which has been bearish on the long-term trend of tesla's stock price, recently resumed its 'buy' rating on tesla and listed it as the preferred stock in the auto industry. In addition, Deutsche Bank resumed tesla's target price tracking, giving tesla a target price as high as $295.
In addition to the analysts mentioned above, Baird's Ben Kallo predicts that tesla could sell 0.48 million vehicles in Q3, ubs group analyst Joseph Spak estimates this number to be around 0.47 million, while Tom Narayan from the Royal Bank of Canada is slightly more conservative, expecting Q3 deliveries of 0.46 million vehicles.
Tesla's stock price rebounds from being oversold.
Optimistic sales expectations combined with interest rate cuts have opened up an upward channel for Tesla's stock price. As of the close on September 26, Tesla's stock price has rebounded nearly 40% from the low point of August 5th, surpassing the 12% increase in the S&P 500 index during the same period, successfully eliminating the year-to-date decline.
Optimistic sales expectations combined with interest rate cuts have opened up an upward channel for Tesla's stock price. As of the close on September 26, Tesla's stock price has rebounded nearly 40% from the low point of August 5th, surpassing the 12% increase in the S&P 500 index during the same period, successfully eliminating the year-to-date decline.
The market has also started to heavily bet on and actively participate in options trading. Currently, in all S&P options trading, Tesla's trading volume accounts for 17%, surpassing Nvidia.
Goldman Sachs even directly recommends buying call options on Tesla. Goldman Sachs believes that besides delivery data, the Robotaxi event on October 10 is also a focal point for investors as Tesla is expected to announce its fully autonomous driving technology and business outlook during the event.
The Robotaxi is highly anticipated.
The debut event of the Robotaxi was originally scheduled for August 8, but was postponed to October 10 due to Musk's request for design changes.
It is widely believed on Wall Street that Tesla's future growth will mainly come from the execution of AI projects, especially the long-awaited Robotaxi and humanoid robot Optimus. This is also the reason why Tesla's stock price is supported amid sluggish electric car sales.
Morgan Stanley stated that Robotaxi will be based on the latest upgraded FSD autonomous driving technology. If Tesla can prove that Robotaxi can quickly bring huge profits to the company once fully deployed in the market, this event could further open up the upside space for Tesla's stock price.
On September 5, Tesla's official account Tesla AI posted on social media that Tesla plans to launch Full Self-Driving (FSD) in China and Europe in the first quarter of next year, as confirmed by Tesla China officials. However, regulatory approval is still pending.
Cathie Wood, known as Tesla's top fan, strongly bullish on Tesla due to her expectation that by 2029, nearly 90% of Tesla's market cap and earnings will be attributed to the Robotaxi autonomous taxi network built on an incredibly powerful AI supercomputing system. Her Ark fund expects Tesla's stock price to reach an astonishing $2600 by 2029.
In addition to the Robotaxi itself, investors are also interested in whether Tesla will introduce a more affordable new model at this event. Goldman Sachs' Mark Delaney pointed out:
Whether Tesla will provide more details or launch a lower-cost new model during the event on October 10 is a topic frequently discussed among us investors.
Goldman Sachs even directly recommends buying call options on Tesla. Goldman Sachs believes that besides delivery data, the Robotaxi event on October 10 is also a focal point for investors as Tesla is expected to announce its fully autonomous driving technology and business outlook during the event.
The Robotaxi is highly anticipated.
The debut event of the Robotaxi was originally scheduled for August 8, but was postponed to October 10 due to Musk's request for design changes.
It is widely believed on Wall Street that Tesla's future growth will mainly come from the execution of AI projects, especially the long-awaited Robotaxi and humanoid robot Optimus. This is also the reason why Tesla's stock price is supported amid sluggish electric car sales.
Morgan Stanley stated that Robotaxi will be based on the latest upgraded FSD autonomous driving technology. If Tesla can prove that Robotaxi can quickly bring huge profits to the company once fully deployed in the market, this event could further open up the upside space for Tesla's stock price.
On September 5, Tesla's official account Tesla AI posted on social media that Tesla plans to launch Full Self-Driving (FSD) in China and Europe in the first quarter of next year, as confirmed by Tesla China officials. However, regulatory approval is still pending.
Cathie Wood, known as Tesla's top fan, strongly bullish on Tesla due to her expectation that by 2029, nearly 90% of Tesla's market cap and earnings will be attributed to the Robotaxi autonomous taxi network built on an incredibly powerful AI supercomputing system. Her Ark fund expects Tesla's stock price to reach an astonishing $2600 by 2029.
In addition to the Robotaxi itself, investors are also interested in whether Tesla will introduce a more affordable new model at this event. Goldman Sachs' Mark Delaney pointed out:
Whether Tesla will provide more details or launch a lower-cost new model during the event on October 10 is a topic frequently discussed among us investors.
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