Tesla is slated to reach its best sales quarter ever
Per Market Watch
Tesla is expected to report its best sales quarter ever for tis Q2 earnings. This comes as the company reported 466,000 EV deliveries earlier this month, which reportedly surpassed initial expectations of Wall Street.
Bill Selesky, Argus Research analyst, initially expected there to only be 450,000 vehicle deliveries for the quarter. This came as the analyst said that they had upside in their Q2 earnings forecaset because of how they experienced strong demand.
Selesky: "We see further upside in the shares over the next 12 months and believe the likelihood of the company hitting its production target of 1.8 million units is now a likely more than ever,"
The expectations by analysts polled by FactSet expect higher Q2 sales for this year compared to its 2022 numbers. The expectations were that it would rake in $24.32 billion in Q2 2023 than its previous $16.9 billion in Q2 2022.
In February, it was reported that Tesla sold out of its Model Y in the US for the quarter. A month before that, the company decided to decrease prices in the US.
In January, Tesla reportedly dropped the price of its Model Y unit by $13,000. The discount also applied for other markets, with the company dropping prices in Canada, for example, by 20%.
See flow at unusualwhales.com/flow.
Other News:
Resources: