Tesla Is Struggling to Make Its Target Deliveries for the Year 

The clock is ticking as Tesla strives to achieve a monumental 516,344 deliveries in Q4 amidst daunting market challenges.

At a Glance

  • Tesla produced approximately 495,000 vehicles and delivered over 484,000 vehicles in Q4 2023.
  • In 2023, vehicle deliveries grew 38% year-over-year to 1.81 million.
  • Tesla aims to pivot towards autonomous driving technologies with the planned launch of its robotaxi.
  • Q4 deliveries set a new record with 484,507 units, surpassing Street estimates.

Tesla’s Push for Q4 Milestones

Tesla plans to hit a milestone with an unprecedented 516,344 deliveries in Q4 to recover from a challenging third quarter. Despite this ambitious target, fierce competition in China and Europe, and a noticeable shift towards hybrid cars created unfavorable conditions. These factors contributed to the dwindling delivery figures, casting a shadow over Tesla’s streak of annual delivery growth.

Tesla produced approximately 495,000 vehicles and delivered over 484,000 vehicles in Q4 2023.

Declining Share Prices and Investor Sentiment

Declining share prices reflect investor apprehensions about Tesla’s performance. Despite the delivery setback in Q3, new consumer incentives are injecting some optimism. The company managed to achieve a 38% year-over-year growth in vehicle deliveries, reaching 1.81 million in 2023, though it fell short of its ambitious 50% annual growth target.

Tesla’s pricing in China remained stable and even saw an increase, acting as a countermeasure in the ongoing price war.

Tesla’s Foray into Autonomous Driving

Adding to the mix, Tesla’s planned launch of its robotaxi signifies a potential pivot towards autonomous driving technologies, aiming to fuel future growth. This could be a significant step in maintaining its innovative edge over competitors. Analyst Dan Ives highlighted the importance of strong Q4 deliveries for Tesla, indicating momentum into 2024.

Q4 Financial Results and Webcast

Tesla will post its financial results for Q4 2023 after market close on January 24, 2024, with a live Q&A webcast held at 4:30 p.m. Central Time (5:30 p.m. Eastern Time). The Q4 and full year 2023 updates will be available on Tesla’s Investor Relations website, with an archived version accessible two hours after the session. Net income and cash flow results will be announced alongside the earnings report.

Tesla cars are interesting, for sure, but it seems like most Americans are still committed to gasoline vehicles. And there’s no surprise there; electric vehicles still take a long time to charge and drivers don’t know how long it’ll take to find a charging station when they’re on the road. Until these problems are solved, it’s hard to imagine a future where everybody drives an electric vehicle…