Tesla, Inc. TSLA has reached an important production milestone and, on Friday, CEO Elon Musk I appreciated the team for the result obtained. More importantly, the milestone prompted one Tesla numbers cruncher to revise his estimates for first-quarter deliveries.
What happened: This week Tesla produced its 6 millionth vehicle. The company took its official name X and said: “We have produced our 6 millionth car! Thank you to our owners and teams around the world for your support and hard work – it really matters.”
Tesla boss Musk reshared the post and said: “Congratulations to the Tesla team!”
See also: Everything you need to know about Tesla stock
Read-across for Q1 deliveries: The milestone could reportedly be slightly positive for Tesla’s first-quarter deliveries Troy Teslikeknown for his predictions on Tesla.
“Tesla’s tweet about the 6 millionth car threw a spanner in the works. I have to increase my production estimate by a certain amount and my delivery estimate by a little,” he said.
That said, he still expects first-quarter deliveries to be lower than the 422,875 units the company delivered a year ago.
“I’m counting the number of working days for each model in each factory,” he said.
In a separate post, Troy Teslike noted that Tesla has reported a decline in year-over-year deliveries only once in the past: It occurred during the second quarter of 2020 due to COVID-19 shutdowns.
Future fund Gary Black, a Tesla bull, said the company may have produced at least 424,673 cars in the first quarter through March 29, when the company announced the milestone. Assuming the company produced another 4,000 to 5,000 units for the rest of the quarter, and considering the typical 3.3% gap between production and first-quarter deliveries, he said Tesla may have delivered 415,000 units in the first quarter.
Tesla is expected to report first-quarter deliveries early next week, with analysts expecting the numbers to decline on Tuesday. Expectations are subdued, given slowing demand in China, weakness in Europe and supply constraints in the United States
Tesla closed Thursday’s session down 2.25% at $175.79, according to Benzinga Pro data.
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