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Is it time for the Robotaxi? Focus on future trends before Tesla investor update


Tesla is anticipated to announce record-breaking delivery numbers for the third quarter, largely driven by strong sales in China. Analysts predict that Tesla will deliver around 461,000 vehicles, with Barclays forecasting even higher numbers at 470,000. Sales in China have been particularly robust, with Tesla selling 86,697 vehicles in August, reflecting a significant increase from July. Despite this, Tesla’s overall sales in China from January to August were slightly down compared to the previous year.

The spotlight will be on Tesla’s upcoming Robotaxi event, set to unveil autonomous driving capabilities using Full Self-Driving technology. CEO Elon Musk has hinted at expanding this technology to Europe and China by early 2025, pending regulatory approval. The event, initially scheduled for August but postponed to October, is part of Tesla’s broader strategy to develop fully autonomous vehicles.

Tesla’s stock trajectory has been on the rise, with shares increasing by 1.08% on Wednesday. Despite being the weakest performer among the “Magnificent Seven” tech stocks, Tesla’s stock has rebounded by 84% since the first-quarter earnings report in April. Following positive delivery expectations and the Robotaxi event, the market will closely monitor Tesla’s overall performance and future plans for expansion in the autonomous driving sector.

Bank of America has reiterated its “BUY” rating for Tesla, setting a target price of $255, while UBS maintains its “SELL” rating with a target of $197. With strong sales expected in China and the upcoming Robotaxi event, Tesla’s stock is poised for potential growth in the coming months.

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