New York, NY – As the end of the second quarter approaches, the anticipation is high to discover the number of cars that Tesla (NASDAQ:TSLA) has sold. The electric vehicle market has faced challenges due to weakening demand, a factor that will be closely analyzed in the upcoming report.
Analyst Daniel Ives from Wedbush remains optimistic about Tesla’s performance in Q2. He highlights the positive trend in China’s growth for Tesla, suggesting a potential rebound in sales. Market estimates predict around 435,000 units sold, with whisper numbers slightly lower at 415,000 to 420,000 units. The focus is on the second half of the year for a potential recovery, along with price stabilization, growth in China, and an upcoming Robotaxi Day event on August 8th hosted by Elon Musk.
According to Ives, the key to Tesla’s future success lies in its autonomous driving and Full Self-Driving (FSD) vision. Recent developments in FSD v12.4 and ongoing testing in China indicate progress in this area. The introduction of robotaxis into Tesla’s portfolio is seen as a significant milestone, with the first Tesla robotaxi set to be revealed on August 8th.
Ives maintains a positive outlook on Tesla, rating the stock as Outperform with a price target of $275. This target reflects a potential return of approximately 31% within a year. However, not all analysts share the same bullish sentiment, with a consensus rating of Hold based on 14 Holds, 12 Buys, and 8 Sells. The average target price of $182.1 suggests a decline of 14.5% in the stock over the next year.
Investors and analysts alike are closely watching Tesla’s progress, particularly in the autonomous driving space. The upcoming months are expected to be crucial for the company’s growth and market performance. Stay tuned for updates on Tesla’s Q2 results and future developments in this rapidly evolving industry.