On October 2, Tesla released delivery data for the third quarter of 2022, with delivery volume of 343,830 vehicles, a record high, but lower than the expected 358,000 vehicles by Wall Street .
In the third quarter, Tesla delivered 325,158 Model 3 and Model Y, as well as 18,672 Model S and Model X.
Tesla blamed logistics transportation for the reason for the lower delivery volume than expected, noting that many vehicles are "still in transportation".
In a press release last Sunday, the company wrote:
"Always, our delivery volume has surged at the end of each quarter due to mass production methods for different regional markets. With the continuous increase in production, the challenge of ensuring long-term capacity at reasonable costs during peak logistics and transportation is increasing."
"In the third quarter, we began to transition to 'more balanced mass production for different regional markets in weekly units', which led to an increase in the number of cars that are still in the long-term process at the end of the quarter. These in-transit cars have been ordered and will be delivered to customers upon arrival."
Tesla's delivery volume this quarter has not only failed to meet Wall Street's expectations, but also the expectations of many analysts and company trackers.
A well-known , a Twitter user Troy Teslike, who focuses on tracking data analysis of Tesla's delivery and other data, posted a tweet saying:
My estimate of (Tesla's third quarter) production is 1.7% higher, while my estimate of delivery is 5.6% higher (it has always aimed to have an estimation error of less than 3%). This is the largest estimation error in delivery in recent quarters. It seems to be some transportation problems.
delivery volume hits a record, will the market still be disappointed?
Strong delivery data often means positive for Tesla's stock price.
In the past 11 quarters, Tesla's delivery volume exceeded analysts' expectations for 8 quarters. During the period when Tesla's stock price outperformed the market during the period when the delivery results were released and the company released its quarterly earnings report.
For example, during the July delivery report and the third quarter results report, Tesla's stock price rose by about 9%, while the same period S&P 500 index rose by about 4%. Tesla's share price has risen about 17% since July delivery data were released. S&P 500 fell about 6% during this period.
In recent weeks, Tesla investors seemed relieved as the epidemic eased, and they were also impressed by better-than-expected second-quarter data.
Although the third-quarter delivery data set a new record, analysts pointed out that lower-than-expected figures may not be enough to support Tesla's stock price in the coming weeks.
Investors are still worried about inflation and rising interest rates. As of last Friday's close, Tesla's stock price has fallen about 25% this year, while the S&P 500 and Nasdaq Composite have fallen about 25% and 32% respectively.
However, analysts also pointed out that bears will pay attention to the delivery data being lower than expected, but bulls may pay attention to the rise in production. Data released by Tesla yesterday showed that the total production in the third quarter reached 365,923 vehicles. Bullers will also focus on the spread of delivery and add the number of vehicles in transit to their delivery estimates for the fourth quarter.
Tesla will release its third-quarter results after the market closes on October 19, when investors will want to know the latest information about production and vehicles.
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This article does not constitute personal investment advice, nor does it take into account the special investment goals, financial situation or needs of individual users. Users should consider whether any opinions, opinions or conclusions in this article meet their specific circumstances. The market is risky, so you need to be cautious when investing. Please make independent judgments and decisions.
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