Tesla: June Delivery Numbers Will Be ‘Ugly’, Focus is on H2


© Reuters. Tesla (TSLA): June Delivery Numbers Will Be ‘Ugly’, Focus is on H2 – Wedbush’s Ives

By Senad Karaahmetovic

Wedbush analyst Daniel Ives has previewed Tesla’s Q2 delivery numbers that will likely be released later this week or during the upcoming weekend.

Ives forecasts Tesla (NASDAQ:) lost around 70,000 EV units from China given lockdowns in this country. The analyst sees Q2 deliveries of roughly 250,000 “with anything above 260k viewed positively by the Street.”

“While the year started out with 1.5 million to 1.6 million units as the bogey for 2022 deliveries (with a stretch goal of 1.7 million), now the whisper bogey is closer to 1.4 million for the year given the China issues coupled by global supply chain issues,” Ives wrote in a note.

The analyst added that the market has already priced in weak deliveries for Q2 with the focus now shifted to H2.

“While June delivery numbers will be ugly and nothing to write home about the Street will be focused on the trajectory for 2H and the overall demand picture staying firm,” Ives added.

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