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Tesla heading towards new delivery record in Q4 despite demand concern narrative
Tesla is anticipated to report a new delivery record in Q4 at the beginning of January. It remains to be seen if the potential milestone would be enough to reassure investors and analysts, considering the challenges being faced by the company, such as inflation, production headwinds in China, and the rise of legitimate competitors, among others.
In what seems to be a serious effort to reduce excess inventory, Tesla has offered a rare discount of $7,500 and 10,000 miles of free Supercharging to US customers who take delivery of a new Model 3 or Model Y before the end of the year. The strategy is perceived by some Tesla bulls as a way for the EV maker to attract customers this quarter, or at least before the Inflation Reduction Act (IRA) restores federal tax credits of up to $7,500 for specific electric vehicles starting January 1.
Tesla’s vehicle deliveries are a closely monitored statistic by TSLA bulls and bears as it provides a notable hint if Tesla can maintain its ambitious expansion goals. As per 16 analysts surveyed by Bloomberg, Tesla’s Q4 2022 deliveries could be on track to reach 420,760 vehicles. While this estimate does not include recent analyst projections, it does exceed Tesla’s previous record of 343,830 cars, which were delivered in Q3 2022.
As the industry’s global leader in electric vehicles, Tesla is well-positioned to benefit from some of the IRA’s incentives for battery cell manufacturing and locally assembled EVs. To achieve its self-imposed goal of increasing deliveries by 50% annually over several years, however, Tesla may have to consider some compromises on its vehicles’ gross margins. This may be the case this quarter, with the company’s discounts for its vehicles.
Earlier this year, CEO Elon Musk noted that Tesla would aim to produce over 1.5 million vehicles in 2022. Considering that the company has manufactured 929,910 cars in the first three quarters of 2022, it must produce over 570,000 additional vehicles to meet this goal, as per a Bloomberg News report. Tesla would likely not meet Elon Musk’s 1.5 million estimate for this year, but the company’s results would likely still be very impressive.
Longtime Tesla bull Ben Kallo from Baird, for his part, recently noted that he expects the company to post deliveries of just 378,262 vehicles for the fourth quarter “to account for the reported slowdown in production and a weakening macro environment.” Despite this cautious stance, Kallo maintained his “Outperform” rating on TSLA stock. “I’m worried about the general economic environment. Do people have the wallets to pay for $60,000 cars? That’s what the market is worried about too,” Kallo noted.
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Armored Tesla Cybertruck “War Machine” debuts at Defense Expo 2025
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Tesla Megapacks chosen for 548 MWh energy storage project in Japan
Tesla plans to supply over 100 Megapack units to support a large stationary storage project in Japan, making it one of the country’s largest energy storage facilities.
Tesla’s Megapack grid-scale batteries have been selected to back an energy storage project in Japan, coming as the latest of the company’s continued deployment of the hardware.
As detailed in a report from Nikkei this week, Tesla plans to supply 142 Megapack units to support a 548 MWh storage project in Japan, set to become one of the country’s largest energy storage facilities. The project is being overseen by financial firm Orix, and it will be located at a facility Maibara in central Japan’s Shiga prefecture, and it aims to come online in early 2027.
The deal is just the latest of several Megapack deployments over the past few years, as the company continues to ramp production of the units. Tesla currently produces the Megapack at a facility in Lathrop, California, though the company also recently completed construction on its second so-called “Megafactory” in Shanghai China and is expected to begin production in the coming weeks.
READ MORE ON TESLA MEGAPACKS: Tesla Megapacks help power battery supplier Panasonic’s Kyoto test site
Tesla’s production of the Megapack has been ramping up at the Lathrop facility since initially opening in 2022, and both this site and the Shanghai Megafactory are aiming to eventually reach a volume production of 10,000 Megapack units per year. The company surpassed its 10,000th Megapack unit produced at Lathrop in November.
During Tesla’s Q4 earnings call last week, CEO Elon Musk also said that the company is looking to construct a third Megafactory, though he did not disclose where.
Last year, Tesla Energy also had record deployments of its Megapack and Powerwall home batteries with a total of 31.4 GWh of energy products deployed for a 114-percent increase from 2023.
Other recently deployed or announced Megapack projects include a massive 600 MW/1,600 MWh facility in Melbourne, a 75 MW/300 MWh energy storage site in Belgium, and a 228 MW/912 MWh storage project in Chile, along with many others still.
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Tesla highlights the Megapack site replacing Hawaii’s last coal plant
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Elon Musk responds to Ontario canceling $100M Starlink deal amid tariff drama
Ontario Premier Doug Ford said, opens new tab on February 3 that he was “ripping up” his province’s CA$100 million agreement with Starlink in response to the U.S. imposing tariffs on Canadian goods.
Elon Musk company SpaceX is set to lose a $100 million deal with the Canadian province of Ontario following a response to the Trump administration’s decision to apply 25 percent tariffs to the country.
Starlink, a satellite-based internet service launched by the Musk entity SpaceX, will lose a $100 million deal it had with Ontario, Premier Doug Ford announced today.
Starting today and until U.S. tariffs are removed, Ontario is banning American companies from provincial contracts.
Every year, the Ontario government and its agencies spend $30 billion on procurement, alongside our $200 billion plan to build Ontario. U.S.-based businesses will…
— Doug Ford (@fordnation) February 3, 2025
Ford said on X today that Ontario is banning American companies from provincial contracts:
“We’ll be ripping up the province’s contract with Starlink. Ontario won’t do business with people hellbent on destroying our economy. Canada didn’t start this fight with the U.S., but you better believe we’re ready to win it.”
It is a blow to the citizens of the province more than anything, as the Starlink internet constellation has provided people in rural areas across the globe stable and reliable access for several years.
Musk responded in simple terms, stating, “Oh well.”
Oh well https://t.co/1jpMu55T6s
— Elon Musk (@elonmusk) February 3, 2025
It seems Musk is less than enthused about the fact that Starlink is being eliminated from the province, but it does not seem like all that big of a blow either.
As previously mentioned, this impacts citizens more than Starlink itself, which has established itself as a main player in reliable internet access. Starlink has signed several contracts with various airlines and maritime companies.
It is also expanding to new territories across the globe on an almost daily basis.
With Mexico already working to avoid the tariff situation with the United States, it will be interesting to see if Canada does the same.
The two have shared a pleasant relationship, but President Trump is putting his foot down in terms of what comes across the border, which could impact Americans in the short term.
Armored Tesla Cybertruck “War Machine” debuts at Defense Expo 2025
Tesla Megapacks chosen for 548 MWh energy storage project in Japan
