TSLA stock was trading at $279.06 as of 02:31 PM EDT.
Tesla (NASDAQ:TSLA) is asking staff to assist in delivering as many automobiles as possible by October 1 as part of its customary late-quarter push.
Tesla (NASDAQ:TSLA) encouraged even staff who did not work in the sales and delivery department to assist with the responsibilities to deliver vehicles to clients by the end of the quarter in an email seen by Electrek. Making final adjustments to the vehicles and moving them around so they may be delivered are a few of these jobs.
TSLA stock Outlook/Financials
With projections as high as 370,000 units, Tesla (TSLA) is anticipated to report strong Q3 deliveries. This would surpass the previous quarterly record of 310,000 units established in Q1 of 2020 before the pandemic shut down supply chains. 350,000 deliveries are anticipated, according to the consensus.
Despite a recent upgrade, according to a report from Shanghai, Tesla (NASDAQ:TSLA) aims to maintain output at its Shanghai facility at roughly 93% of capacity through the end of the year. Reuters was informed by sources that Tesla (NASDAQ:TSLA) intended to produce 20.5K units a week for the remainder of the year, which would include a total of 13K Model Ys and 7.5K Model 3s. Why the facility would be operating at less than 100% is unknown.
In midday trading on Tuesday, Tesla (NASDAQ:TSLA) shares increased 0.96% to $279.21, above their 52-week trading range of $206.68 to $414.50.
Elon Musk, the company’s CEO, expressed optimism about the second half of the year in July, emphasizing the potential for “record-breaking” performance in light of the second quarter’s production records at the Fremont and Shanghai plants. That was, of course, before additional data emerged demonstrating that inflation is still running too high. The fed funds rate was just increased once more by the Federal Reserve, and more rate increases seem imminent.
Analysts anticipate Tesla to report record third-quarter deliveries of 350,000 vehicles. The business’s upcoming update on deliveries, which is expected to be released by October 2, will provide investors with additional information about demand trends.
Featured Image- Megapixl @ Andreistanescu