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Tesla beats expectations with record deliveries: what does this mean for shareholders and the future of EVs?

Charles Sainsbury
2. 1. 2024
2 min read

Tesla, under the leadership of Elon Musk, exceeded expectations in the fourth quarter of 2023, achieving a record number of vehicles delivered, and also met its full-year target.

Tesla $TSLA+2.2% announced during Tuesday that it produced 494,989 vehicles and delivered 484,507 vehicles in the fourth quarter of 2023, beating analysts' forecasts. Total annual vehicle deliveries increased a significant 38%, bringing Tesla's total to 1.81 million vehicles. This impressive performance reinforces Tesla's position as a key player in the EV industry.

Tesla's goal of reaching 1.8 million deliveries in 2023 is successfully met, signaling robust demand for the company's EVs. The current results may have a significant impact on Tesla's stock value and the capital market's perception of the company.

Prior to the release of Tesla's data, Wall Street expected 2023 vehicle deliveries of 1.797 million, which would have been just below its stated target of 1.8 million. However, Tesla's results exceeded those expectations, which may spur further discussion about the company's projected growth in the coming periods.

Another interesting element is the fact that Chinese competitor BYD surpassed Tesla in battery electric vehicle sales for the first time in the fourth quarter, with 526,409 vehicles sold. This shows the increasing competition in the global EV market and highlights the need for innovation and strategic decisions to maintain leadership.

Despite recent market fluctuations, Tesla stock presents an interesting story and analysts project $TSLA+2.2% stock to be up in 2024.

Tesla stock nearly doubled in value in 2023. Deeper analysis shows that Tesla stock is currently ranked fifth in the IBD Auto Manufacturers industry group, with a composite rating of 78 out of a possible 99. A relative strength rating of 84 and an EPS rating of 88 highlight the company's stability and performance.

TSLA

Tesla

TSLA
$204.08 $4.35 +2.18%
1 Day
+0.02%
5 Days
-2.3%
1 Month
-5.61%
6 Months
-16.66%
YTD
-20.53%
1 Year
-2.31%
5 Years
+891.01%
Max.
+12,315.72%

On the eve of further developments in the EV market and in response to the current results, investors and analysts can expect further discussions about Tesla's future and the direction the industry is taking. Electromobility is likely to play a key role in the transformation of the automotive industry, and Tesla is still one of the leading players in this revolutionary process.

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