Goldman Sachs: Tesla to deliver 50,000 to 60,000 fewer cars than expected this quarter

In a new report, Goldman Sachs analysts lowered estimates for Tesla deliveries this quarter to 375,000 from their prior guess of 400,000, citing the transition to the new Model Y and weaker demand. That’s notably lower than the 426,000 consensus estimate in Visible Alpha and the 437,000 in FactSet. Last year the company delivered about 387,000 vehicles in the first quarter, so if Goldman Sachs is right, Tesla’s deliveries will decline year on year. In its last earnings statement, the company predicted a return to growth this year after a sales decline in 2024.

So far this year, Tesla is facing declining sales in most of Europe and China and roughly flat sales in the US — they declined about 13% in January and rose about 14% in February, according to data from Wards Intelligence. One bright spot: it’s seen sales growth in the UK.

Goldman Sachs slightly lowered its price target to $320 from $345.