Whatever delivery number the EV maker reports for January through March, it will be well below the ‘consensus’ on your terminal screen.
Tesla is having a shocker of a first quarter. The sell-side consensus is behind the curve, investors much less so.
The electric-vehicle pioneer might not even match the 422,875 deliveries it made in January through March last year when it reports quarterly volumes early next week. That would make for the first year-over-year decline in sales since the pandemic lockdowns of spring 2020—not to mention some tough headlines.
We don’t know precisely what numbers the company will report, not least because it still has a weekend of the quarter left. But we have a fair idea based on a patchwork of data from third-party trackers.
In the U.S., Tesla delivered roughly 108,000 vehicles in the first two months of the year, according to estimates by Motor Intelligence, down from 114,000 a year ago. Insurance data tracked by EV website CnEVPost point to a similar 5% year-over-year decline in China for the first 12 weeks of the quarter. These are Tesla’s two largest markets.