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Tesla's (NASDAQ: TSLA) share price continues to rise as investors expect strong delivery rates and development in 2022. Investors are increasingly optimistic about Tesla's Q4 results and support a rise in the share price. Its value increased on Monday, rising to a trendline buy point.
Tesla's delivery data will be announced in early January. The FactSet consensus data shows delivery of 261,400 Model 3 and Y vehicles and 15,500 Model S and X vehicles. This would bring cumulative deliveries to 276,900 vehicles. In Q3, Tesla delivered 241,300 vehicles, which exceeded the consensus estimate of 232,000 vehicles.
However, some analysts are even more optimistic. Analysts at RBC Capital Markets estimate Q4 deliveries to grow 58% YoY to 285,000 units. If this happens, then Tesla will deliver 913,000 vehicles in 2021. They expect deliveries of Model 3 and Y to grow 69% YoY to 273,000 units.
Thus, Tesla will win another round against the U.S. legacy car manufacturers, who have been unsuccessfully struggling with component shortages throughout 2021. Tesla has largely been able to avoid shortages and disruptions in production thanks to the strong management abilities of its leadership.
Tesla's Q4 deliveries could grow even higher than expected as credits for buying new electric vehicles are suspended. While new credits are highly likely, Build Back Better's plan has stalled in the Senate. This uncertainty may have prompted some U.S. residents to buy a car right now. RBC Capital Markets predicts that the majority of Tesla vehicles in Q4 will deliver to U.S. buyers.
© 2021, Eva Fox | Tesmanian. All rights reserved.
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Eva Fox holds zero shares of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.