Tesla is gearing up to announce record-breaking delivery numbers for the third quarter, thanks to strong sales in China. Analysts are predicting that Tesla will deliver around 461,000 vehicles for the quarter, driven by robust demand in the Chinese market. Despite facing some challenges in the US and Europe, Tesla’s sales in China have been soaring, with impressive monthly figures in August and early September. The upcoming Robotaxi event, originally scheduled for October 10, will be a key focus for investors and analysts, as it is expected to shape the future trend of Tesla’s stock.
With CEO Elon Musk’s ambitious plans to develop fully autonomous vehicles and AI-driven products like Robotaxi and Optimus humanoid robots, Tesla is positioning itself as a leader in the AI race. Musk has hinted that Optimus robots could be deployed in Tesla’s Austin factory by the end of 2024, while plans to roll out Full Self-Driving technology in China and Europe are also in the pipeline.
Despite Tesla’s recent struggles in terms of stock performance, with only a 3.44% year-to-date increase, the company has seen a rebound since announcing plans to ramp up production of affordable EVs. Wall Street analysts remain divided on Tesla’s stock, with Bank of America reiterating a “BUY” rating and setting a target price of $255, while UBS maintains a “SELL” rating with a target of $197. As Tesla prepares to reveal its quarterly delivery numbers next week, all eyes are on the company’s performance in China and the potential impact of the upcoming Robotaxi event on its stock trajectory.
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