Tesla Poised to Update Car Delivery Targets Based on Lingering Component Shortage
Tesla (TSLA) shares are trading higher in anticipation of the company's Q3 earnings report this week.
A number of high-ranked brokers issued bullish remarks on the stock ahead of the report.
Tesla is expected to report its Q3 earnings of $1.52 per share, which, once proved real, will represent year-over-year growth of 100% from $0.76 per share reported in the same period a year ago. Analysts believe the current microchip-shortage-related supply chain issues have taken around 40,000 cars off the annual target numbers for Tesla and despite this dynamic. Therefore, in terms of expected deliveries, Tesla will likely approach the ~900K mark for 2021 with 1.3 million/1.4 million units looming for 2022 yearend.
Tesla spent almost a whole year without delivering at least one of the four vehicles in its lineup as it experienced delays in bringing its refreshed Model S and Model X to production. At the same time, Tesla updated its delivery timelines for new orders across the lineup. The most interesting update is to the Model X, which had almost a year to accumulate new orders.
Tesla now expects that someone placing a new order for a Model X Long Range in the U.S. would receive it around September 2022.
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