Earlier today, EV manufacturer Tesla (NASDAQ:TSLA) announced its vehicle delivery figures for its fourth quarter. The company produced around 495,000 vehicles and delivered more than 484,000 vehicles. In 2023, Tesla’s vehicle deliveries went up by 38% year-over-year to 1.81 million, while its vehicle production grew by 35% year-over-year to 1.85 million.
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The company’s 2023 vehicle deliveries met its target, and its Q4 delivery numbers were higher than analysts’ estimates of between 475,000 and 480,000 units. In addition, Tesla’s vehicle deliveries in the fourth quarter were 11% higher than the third quarter.
Tesla delivered 461,538 Model 3 cars and Model Y sports utility vehicles in Q4, while its other models had deliveries of 23,000 units.
What is the Future Price of Tesla Stock?
Analysts remain sidelined about TSLA with a Hold consensus rating based on 12 Buys, 13 Holds, and five Sells. Over the past year, TSLA stock has surged by more than 100%, and the average TSLA price target of $243.59 implies a downside potential of 2% at current levels.
