Wedbush Securities analyst Dan Ives shared his Tesla (TSLA) Q1 2024 delivery estimates on X. He predicts a demand issue after a “nightmare” quarter for Tesla China.
Ives forecasts that Tesla will report a delivery between 425,000 and 475,000 units in the first quarter. He explained that Tesla dealt with a “perfect storm this quarter.
Tesla reportedly trimmed its production output at Giga Shanghai recently. According to local reports, Tesla is reducing its production output to match Giga Shanghai’s manufacturing levels with demand in the Chinese electric vehicle (EV) market, which has many competitors. The EV automaker cut working days from 6.5 to 5 days a week as part of its objective.
1Q has been a nightmare quarter for Tesla as China demand remains very soft. 1Q delivery estimates 475k…
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