Tesla (TSLA) is gearing up for a critical reporting period, with Wall Street lifting its expectations for the electric auto giant’s vehicle deliveries ahead of the eagerly awaited results next week. Investors and analysts alike are closely watching as Tesla prepares to announce its third-quarter production and delivery figures for 2024.

After experiencing two consecutive quarters of year-over-year declines in deliveries, it appears the automaker is on the brink of a turnaround. In the previous quarter, Tesla managed to deliver an impressive 435,059 vehicles, outperforming analysts’ expectations in what was seen as a sluggish period.

A key driver of Tesla's recently bolstered performance has been its successful financing efforts in China, where the company has introduced attractive 0% interest financing options. This strategy has significantly spurred demand; however, there remains uncertainty regarding whether this strong performance in China can offset Tesla’s underwhelming results in Europe and the unclear trajectory of its operations in the United States.

Recent assessments from Wall Street analysts indicate a surge in confidence regarding Tesla’s upcoming delivery numbers: - Dan Levy from Barclays has increased his forecast from 462,000 to 470,000 deliveries. - Tom Narayan at RBC Capital Markets revised his estimate from 454,000 to 460,000. - Baird's Ben Kallo believes deliveries may reach as high as 480,000. - UBS analyst Joseph Spak predicts 470,000 deliveries. - Lastly, Alexander Potter from Piper Sandler anticipates 459,000 deliveries.

The consensus among analysts now settles around approximately 462,000 deliveries for the third quarter of 2024, according to Bloomberg. Meeting this target would signal a return to year-over-year growth, though Tesla would still need to deliver 485,000 vehicles to maintain a stable yearly performance.

Looking ahead, Tesla initially set an ambitious goal of 2 million vehicle deliveries for 2024. To remain on track for this objective, the company would need to achieve a staggering 585,000 deliveries in the coming quarter. This ambitious target reflects the increasing competition in the electric vehicle market, not only from established car manufacturers but also from emerging players in the industry.

Furthermore, Tesla has recently included energy storage deployments in its overall production and delivery figures. However, analysts have yet to incorporate this aspect into their projections, despite the significant positive impact it could have on Tesla’s financial performance.

As the anticipation builds, the question remains: Will Tesla meet or exceed the optimistic target of 462,000 deliveries? Only time will tell, but the stakes have never been higher as the electric vehicle market continues to evolve. Stay tuned for next week’s results!