Tesla (NASDAQ:TSLA) is anticipated to reveal its Q2 delivery figures this week, concluding a challenging first half for the electric vehicle (EV) manufacturer due to subdued demand in the broader market. Despite this, analysts at Wedbush are optimistic about Tesla’s performance in China, noting a gradual improvement and a potential ‘mini rebound’ in Q2 that could help the company meet Wall Street’s estimate of 435,000 units.
While whisper numbers suggest lower figures ranging from 415,000 to 420,000 units, the focus remains on a second-half recovery in unit sales, price stabilization, continued growth in China, and the upcoming Robotaxi Day on August 8th, hosted by Elon Musk.
Wedbush analysts observed a stabilization in Tesla’s pricing over recent months, indicating that most price cuts are now behind them. They also highlighted a resurgence in demand in China during May and June, as consumers in the region realize that major price cuts are unlikely to continue.
The Robotaxi Day event is seen as a significant moment and a potential catalyst for TSLA, according to Wedbush. The investment firm maintains an Outperform rating and a price target of $275 on the stock.
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