Tesla (TSLA) bull Gene Munster shares delivery estimates for Q3 2024

Longtime Tesla (NASDAQ: TSLA) bull Gene Munster shared his views on the electric vehicle maker’s third-quarter vehicle delivery results. Munster expects a slight miss from Tesla, but investors will likely be happy as long as the company shows growth again.

Tesla is expected to release its third-quarter 2024 vehicle delivery and production report around Wednesday. And according to a Benzinga report, most Wall Street analysts on the sales side are optimistic that the electric car maker is beating expectations.

The Street estimates that Tesla will deliver 465,000 vehicles in the third quarter, an increase of 7% year-over-year. Munster noted that his personal estimate is 452,000 vehicle deliveries, which is lower than the consensus but still represents 4% year-over-year growth.

$TSLA Deliveries for the September quarter are expected to be available on Tuesday.

Big picture: This should be a heads where Tesla wins, but tails they are not losing numbers as deliveries are expected to return to growth.

Expectations: The Street expects deliveries of 465,000, up 7% year-over-year. I’m looking for a slight miss,…

– Gene Munster (@munster_gene) September 29, 2024

Munster noted that if Tesla meets Street estimates, investors would likely view that as a double positive, as it would suggest the company has turned things around after a 9% decline in the first quarter and a 5% decline in the second quarter. . This would also suggest that Tesla is experiencing new growth, even as CEO Elon Musk has become more polarizing due to his political social media posts on X.

“It should be a ‘heads Tesla wins, tails they don’t lose numbers’ because deliveries should return to growth,” Munster noted. And in an article on

Final check $TSLA delivery estimates:

• Street now stands at 462,000, up 6% year-over-year. That’s a slight decline from last week’s estimate of 465,000.
• I am at 452,000, up 4% year-on-year.

I continue to believe that if deliveries return to growth (above 436,000), this will be considered positive.

– Gene Munster (@munster_gene) September 30, 2024

Tesla bulls are quite optimistic about Q3 2024 results thanks to the company’s strength in China. According to Gary Black, another TSLA bull, on a 12-week basis, Tesla China deliveries in Q3 were up 18.5% year-over-year and 19.9% ​​compared to Q2 2024. Black also noted that Tesla China is on track for its best quarter ever. date.

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Tesla (TSLA) bull Gene Munster shares delivery estimates for Q3 2024