Tesla anticipated to hit low end of 2019 deliveries forecast
January 2, 2020 by The Associated Press
Tesla is anticipated to meet the low end of its 2019 deliveries forecast, with China in focus this year, according to some analysts.
The electric vehicle maker previously announced that it expected to deliver 360,000 to 400,000 units worldwide last year. Tesla is anticipated to provide its delivery details in the next few days.
Jed Dorsheimer of Canaccord Genuity said in a note that he expects Tesla will come in above 360,000 units. He previously estimated the company would deliver 368,965 units.
Wedbush’s Daniel Ives concurs, saying Tesla should comfortably hit its 2019 outlook.
Going forward, Dorsheimer and Ives predict China will play a critical role in the company’s growth. Tesla delivered its first batch of Model 3 cars produced in Shanghai last month.
Ives says ramping up production at Tesla’s factory in China and gauging demand in the region will be a primary focus for investors over the next 12 to 18 months.
While Tesla has faced its share of financial worries, Dorsheimer believes those concerns will be muted this year.
“As Tesla has secured funding for China’s gigafactory and demonstrated increased profitability, we believe investor focus in 2020 will be squarely on the greater electrical vehicle opportunity,” he wrote.