Goldman Sachs analyst Mark Delaney believes data points intra-quarter on Tesla’s deliveries for key regions U.S., Europe, and China show mixed demand trends. Tesla is not currently tracking to meet its objective to grow vehicle deliveries in 2024, which would require 515,000 or more units in Q4, the analyst tells investors in a research note. However, Goldman expects Tesla to increasingly use incentives to try to achieve this volume target. Part of Tesla’s motivation for using incentives to try to grow could be an effort to reduce Model Y inventory ahead of the launch of a refreshed version that media reports suggest could occur in early 2025, contends the firm. Goldman lowered its Q4 deliveries estimate to 510,000 units from 515,000, which compares to the consensus estimate of 515,000. The firm keeps a Neutral rating on Tesla with a $250 price target.
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