Tesla to Sell 1.9M+ EVs in 2023, Counterpoint Research Expects

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Tesla (NASDAQ: TSLA) will sell more than 1.9 million electric vehicles in 2023, Counterpoint Research expects. It is not the only firm that expects the company to deliver more vehicles than its original, self-set target.

Shares of the electric vehicle maker are trading at $286.77 (at the time of writing) ahead of its earnings report. Tesla will post its financial results for the second quarter of 2023 after market close on Wednesday, July 19, 2023. At that time, Tesla will issue a brief advisory containing a link to the Q2 2023 update, which will be available on Tesla's Investor Relations website. Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.

Analysts expect Tesla to post quarterly revenue growth. The company may report a 44.5% increase in revenue to $24.477 billion from $16.93 billion a year ago. The calculation was based on an average estimate of 20 analysts per Refinitiv data. Refinitiv's average estimate for Tesla is 82 cents a share.

At the start of the year, Tesla began cutting prices on its vehicles around the world. It made a big push, making Model Y the best-selling car in the world, as noted by Counterpoint Research. After receiving delivery data for Q2 2023, the firm concluded that it would deliver more than 1.9 million vehicles this year. The company itself estimated that it would deliver about 1.8 million vehicles for the entire year, although Elon Musk hoped to do even better.

© 2023, Eva Fox | Tesmanian. All rights reserved.

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