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Tesla, Inc. (NASDAQ:TSLA) shares fell in premarket trading on Tuesday ahead of the release of the electric vehicle maker’s quarterly deliveries number.
The company is widely expected to underdeliver relative to the lowered bar but bullish analyst sees the second quarter as a bottom and expects sales to recover in the second half. The consensus estimate, compiled by Bloomberg, puts the number at 439,300 units and the company-compiled consensus is at 437,812 units.
Read Benzinga’s Preview on the report by clicking this link
China tidings that came out ahead of the report were not very encouraging. Data released by the China Passenger Car Association showed Tesla’s made-in-China sales coming in at 71,007 units in June, CnEVPost reported. This marked a 2% month-over-month drop and a steeper 24% plunge from a year ago. Cumulative MIC sales based on the numbers released by CPCA were 205,747 units.
Domestic sales in China for the first two months of the second quarter were 86,636 units.
In premarket trading, Tesla fell 1.32% to $207.10, according to Benzinga Pro data. The premarket decline comes amid a drop in the major U.S. index futures, which were modestly lower.
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