Tesla's October Outlook: Q3 Deliveries and Robotaxi Event Highlight Future Growth

Tesla Inc (NASDAQ:TSLA) is gearing up for an eventful October, with significant developments expected in its third-quarter deliveries and the much-anticipated Robotaxi event later this month. Wall Street is keenly observing these events as they could indicate a positive shift in Tesla's performance trajectory.

According to Wedbush analyst Daniel Ives, the upcoming third-quarter deliveries could mark a pivotal moment for Tesla, suggesting a potential turnaround driven by advancements in AI and full self-driving (FSD) technologies. Ives noted, "We believe this 3Q deliveries print could be a major step back in the right direction with the turnaround story underway fueled by a strengthening backdrop and key innovations in AI/FSD space propelling the company forward."

Tesla is expected to announce its Q3 delivery figures next week, likely on Wednesday morning. Analysts predict deliveries to reach approximately 462,000 units, with some estimates even exceeding 470,000. This performance is anticipated to reflect an improvement from the earlier part of the year, which was marred by reduced demand, particularly from China.

China is projected to play a crucial role in Tesla's Q3 results, thanks to increased demand and attractive leasing and financing options. However, opinions on Wall Street are mixed regarding Tesla's delivery performance.

Deutsche Bank analysts expect Tesla to at least meet the projected delivery numbers, forecasting around 462,000 units for Q3. They also caution that Tesla's margins might remain stable or decrease due to import tariffs affecting U.S. and European deliveries, alongside increased Cybertruck sales.

Looking towards the fourth quarter, Tesla's Robotaxi event on October 10 is set to capture investor interest. Attendees are eager for updates on Tesla's advancements in full self-driving technology, artificial intelligence, and future strategic plans. Wedbush's Ives, who will be present at the event, emphasized the importance of autonomous technology in Tesla's growth strategy, stating, "The next phase of the Tesla growth story is around autonomous, Robotaxis, and AI playing out for the Tesla ecosystem over the coming year."

Deutsche Bank also highlights the Robotaxi event as a potential "catalyst for the stock," expecting Tesla to demonstrate its latest FSD capabilities and provide insights into its Robotaxi initiatives.

Both Wedbush and Deutsche Bank maintain a buy rating on Tesla stock, with price targets of $300 and $295, respectively, underscoring their confidence in Tesla's future prospects.