Tesla to total 1.8 million EV sales in 2023, predicts analyst

Tesla is expected to post a large number of vehicle shipments about 1.8 million throughout 2023, just shy away from its annual target of 2 million.

Throughout the year, Tesla has been applying various strategies to achieve forecasts but the shift in consumer interest and market competition has caused some downstream.

Aside from this, the gradual reduction in EV demand is also causing automakers to switch away from their plans. Ford Motor also rescaled its plan around electrification, allowing Tesla to maintain its lead over the competitors.

“The fourth quarter is typically the strongest of the year in terms of deliveries for Tesla, we’re expecting that to be the case again this year,” said Garrett Nelson, senior analyst at CFRA Research

According to the details, Tesla is likely to deliver 1.82 million vehicles globally in 2023. This is an increase of 37% year over year from 2022.

Tesla Model X

Tesla may report the latest quarterly deliveries and production as early as Tuesday.

Earlier this year, Tesla CEO, Elon Musk said that his company could post about 2 million car unit shipments by the end of this year. However, Musk changed his view with uncertain market conditions.

On the other hand, Tesla has some challenges like loss of subsidies and tax credits on its cars in the home ground. Meanwhile, Germany has also ended EV subsidies by mid-December.

Furthermore, the EV company is under regulator’s scrutiny from the US and Europe. Moreover, Tesla is facing some heat for its stance on labor unions in Nordic markets.

Despite these issues, Tesla is swinging a new bat of possibilities with its latest Cybertruck electric pick-up truck. There is a major market waiting for the EV maker to tap with this new product.

Another analyst predicts that Tesla could post 2.04 million from 2.14 million and said he was modeling for a 4% decline in average revenue per car from 2023.

(source – Reuters)