Tesla price cuts 'definitely working': Analyst
Tesla (TSLA) is expected to release its quarterly vehicle production and deliveries on April 2. The highly anticipated report will be the first comprehensive look at how consumers reacted to multiple price cuts from Tesla dating back to January.
RBC Capital Markets Lead Equity Analyst Tom Narayan is bullish on the upcoming print, expecting Tesla to deliver 445,000 units, which would reflect growth of more than 40% from the same period last year. Narayan's estimate sits well above the 421,000 vehicle estimate from Bloomberg. Traditionally, a major beat or miss against the Wall Street analyst estimates compiled by Bloomberg has lead to large movements in Tesla's stock price. Tesla missed estimates in each of the last two quarters, with shares falling double digits in both instances.
Tesla’s stock enters the report after its best start to the year ever. Shares of the electric vehicle maker closed the first quarter up nearly 70%.
In the video above, Narayan joins Yahoo Finances’ Seana Smith to discuss expectations for Tesla’s deliveries.
00:00:05 - Tesla delivery expectations
00:00:50- Expectations for Tesla pricing