According to a Barclays analyst, $Tesla (TSLA.US)$ the delivery volume in the third quarter is estimated to be around 0.47 million vehicles.

Tesla's stock rose during trading in the new week as the outlook for third-quarter deliveries is positive, bringing the stock price back into positive growth territory for the year.

On Monday, Tesla's stock price closed at $250, up 4.9%, while the s&p 500 index rose 0.3% and the dow jones industrial average rose 0.2%, resulting in a 0.6% increase in Tesla's stock price in 2024.

On Tuesday, Tesla's stock price continued to rise, surging nearly 3% in early trading. As of the time of writing, the increase has slightly narrowed to 1.28%.

Tesla's stock closed at $248.48 at the end of 2023, but had dropped to $138.80 in mid-April, marking a 44% decline for the year. Prior to the release of the second-quarter earnings report in July, the stock had rebounded to above $250. However, the earnings results fell short of expectations, leading to a more than 12% drop in stock price on July 24.

Monday's gains also offset the post-earnings decline. Tesla's stock rose by about 1.5% compared to the level before the earnings announcement, although it still fell by about 5% from the 52-week high closing price of $263.26 reached in early July.

Barclays analyst Dan Levy stated in Monday's report that Tesla's third-quarter delivery volume is expected to be around 0.47 million vehicles. This number is higher than the market consensus forecast of about 0.46 million vehicles compiled by FactSet, with a year-on-year growth of approximately 8%, exceeding Wall Street's expectations which usually benefits stock price growth.

Growth is also an important factor. Tesla delivered approximately 0.831 million vehicles in the first half of the year, a decrease of around 7% compared to the previous year. The sales decline was one of the reasons Tesla's stock fell by about 4% in trading before Monday, lagging behind the S&P 500 index by nearly 25 percentage points.

Levy stated that strong sales in the Chinese market will drive good performance, while he pointed out that electric vehicle sales in Europe have recently been weak.

According to data from industry data provider ACEA, total car sales in Europe declined by approximately 8% year-on-year in July and August, while electric vehicle sales dropped by about 23%. The situation in the USA is relatively better, as per Ward’s Automotive data, total electric car sales in July and August increased by about 14% year-on-year.

Tesla's third-quarter delivery results will be announced on October 2nd. This will be followed by the so-called siasun robot&automation taxi event on October 10th, during which the company will introduce its profit prospects for autonomous driving technology to investors.

Tesla's stock rose by about 3.5% in the past week. The Federal Reserve's decision to cut interest rates by 0.5 percentage points has provided a boost to many stocks.

Editor/Emily