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2024.04.09 17:58
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Wall Street warning: Tesla's second-quarter delivery volume may once again decline year-on-year

Wall Street warns that Tesla's second-quarter delivery volume may once again decline year-on-year, with analysts believing that Tesla is facing a deteriorating demand environment. Despite this, Tesla announced plans to launch a self-driving ride-hailing service, which could have a positive impact on Tesla's stock price. While the market is pessimistic about Tesla's sales prospects, analysts at Fuguo Bank believe that Tesla is a growth company without growth. In conclusion, Tesla faces some challenges but also some opportunities

Analysts at Robert W. Baird have recently warned that following an unexpected decline in the first quarter of this year, Tesla's car sales in this quarter may once again decrease year-on-year. It is undeniable that the demand environment facing Tesla has deteriorated.

Ben Kallo wrote in a research report that Tesla may face a problem of a higher base number this quarter. He predicts Tesla's delivery volume in the second quarter to be 445,000 vehicles, a decrease of 4.6% compared to the same period last year.

Previously, on April 2nd, Tesla announced its first-quarter car production and delivery report, showing a year-on-year decrease of 8.5% to approximately 386,800 vehicles in deliveries, and a sequential decrease of over 20%, far below analysts' previous expectations of 449,000 vehicles, marking the largest deviation from expectations on record.

During a recent conference call, Musk candidly discussed the difficulty of increasing sales in a high-interest-rate environment. Kallo agrees with this and expects this to remain a negative factor at least in the first half of this year. It is worth noting that due to recent signs of rising inflation, market expectations for a Fed rate cut this year have sharply diminished.

Although pessimistic about Tesla's sales this quarter, Kallo's stock rating for Tesla remains a buy, no longer including it in his "bearish" list, based on reasons such as the market being aware of negative factors.

Musk announced last Friday that a self-driving taxi (robotaxi) will be launched on August 8th. Kallo believes that based on past experience, this news could boost Tesla's stock price. Tesla's stock price surged nearly 5% on Monday and continued to rise on Tuesday, outperforming the overall U.S. stock market.

Currently, Wall Street is increasingly sounding the alarm on Tesla's recent sales prospects. Analyst Colin Langan of UBS said last month that Tesla is a growth company without growth. Some analysts have also poured cold water on the self-driving taxi, suggesting that Musk's emergency announcement of the Robotaxi is to boost the stock price, and Tesla has a history of missing deadlines, so investors should remain calm