Reply To: Traders Market Weekly: A Magical Green First Quarter for Stocks


Electric vehicle deliveries:

Tesla (TSLA) & Chinese rivals NIO (NIO), Li Auto (LI), and XPeng (XPEV) shake out. Also, watch for EV pricing news from Chinese V players BYD Company (OTCPK:BYDDF) and Xiaomi (OTCPK:XIACF).will report Q1 deliveries sometime during the first few days of the month.

TSLA Sell-side sentiment has been bearish as of late and the consensus deliveries expectation for the quarter has dropped all the way down to 425K from 494K just a few months ago. By comparison, Tesla delivered 485K vehicles in Q4 and delivered 422,875 a year ago in Q1.

Ahead of the big report,
Baird warned that the consensus mark may still be too high. The firm sees Q1 deliveries for Tesla of 421K and Q2 deliveries of $445K vs. 512K consensus.
Citi is also expecting a miss with deliveries, with its estimate recently cut to 430K.
Goldman Sachs said other data points also suggest slower sales for Tesla to start the year. “Specifically, downloads of the Tesla app in the US and in Europe have declined sequentially when comparing the first two months of 1Q24 vs. 4Q23, and app downloads YTD are down yoy vs 1Q23 in the US per Sensor Tower data, updated analyst Mark Delaney).