Intense competition sparks concerns, analysts are lowering Tesla's Q3 delivery and profit expectations

According to the Zhitong Finance APP, as the October 2nd delivery report date for Tesla (TSLA.US) approaches, analysts are adjusting their expectations for the company's delivery volume. Canaccord analysts have lowered their previous expectation of 480,000 cars to 469,200 cars. Meanwhile, Guggenheim expects Tesla to deliver 456,000 cars in the third quarter. Currently, analysts generally expect a delivery volume of 459,000 cars in the third quarter. In comparison, Tesla delivered 443,956 cars in the second quarter, compared to 435,059 cars in the same period last year. Some Wall Street banks have also lowered their expectations for Tesla's third-quarter earnings per share to align with more aggressive pricing in certain markets. In China, Tesla's sales momentum has picked up, but the measures taken by the company include a zero-interest loan policy. Analysts have lowered their overall expectations for third-quarter earnings per share to $0.61. It is worth noting that Tesla's earnings per share have not met market expectations in five out of the past four quarters and six out of the past six quarters. Overall, due to factors such as intensified competition in the electric vehicle market, Tesla's price cuts to maintain demand, increased spending on artificial intelligence projects and new technologies, and the overall economic conditions affecting the automotive industry and supply chain, Tesla's automotive gross margin has been declining overall over the past twelve quarters. However, many analysts still have a positive outlook on Tesla's future. KM Capital recently gave Tesla a "strong buy" rating. KM Capital wrote, "The Dojo supercomputer and enhanced Full Self-Driving (FSD) capabilities will unlock new revenue streams, reduce dependence on the currency cycle, and open up the Robotaxi market." Morgan Stanley analyst Adam Jonas said he is eagerly anticipating the improvement in global electric vehicle profit margins, but he believes that Tesla continues to demonstrate its ability to control business costs, making investors increasingly aware of the expanding "surface area" between its business model and the artificial intelligence theme, which is important. Morgan Stanley stated that based on Tesla's plans to launch Robotaxi from Warner Bros. Discovery Channel's studios in Hollywood, the bank is optimistic about the long-term potential of autonomous driving cars changing the ground transportation network, but urges clients to maintain good expectations in the short term. Regarding the disclosure of this event, Morgan Stanley stated that investors can expect to see demonstrations of the latest generation FSD on closed/semi-closed roads and demonstrations of fully automatic "network taxis." As for the lunar program, Jonas jokingly suggested that Tesla could introduce concepts of electric planes, visions of electric boats, or showcase Optimus robots cooking burgers in Tesla restaurants