EV Sales from China Firms Bode Well for Tesla (TSLA) Into Imminent Q1 Delivery Report - Analyst

April 1, 2021 10:43 AM EDT
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Tesla (NASDAQ: TSLA) will be releasing its first-quarter delivery figures in the next 24 hours and with analysts all over the place due to chip shortage worries, data this morning from Chinese EV rivals Nio (NYSE: NIO) and Xpeng (NYSE: XPEV) could prove positive for the U.S. EV giant.

Wedbush analyst Dan Ives highlights that Nio delivered 7,257 vehicles in March versus the firm's estimate of 6,000. Xpeng deliveries for March were 5,102 which were also ahead of Street whisper numbers.

"We also expect more good news out of China from Tesla over the next 24 hours with our expectations that Musk & Co. had a strong March in China with Model 3 sales exceeding Street expectations with S/X deliveries noise at this point," the analyst said.

On Wednesday, several analysts weighed in on the upcoming Q1 delivers numbers from Tesla:

  • Credit Suisse analyst Dan Levy sees deliveries of ~175k, slightly ahead of the sell-side consensus 174k
  • Ives sees 174k, in-line with the consensus (although he thinks the line in the sand for investors is 170K)
  • New Street Research analyst Pierre Ferragu thinks Tesla will miss consensus by 5% due to the Model S&X delays and a slower than expected model Y ramp



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