Goldman Sachs Lowers Tesla Delivery Forecasts, Raising Concerns Over Core Business
Goldman Sachs has revised down its delivery forecasts for Tesla (NASDAQ:TSLA), citing weaker sales in key markets such as China, the U.S., and Europe. The bank now expects third-quarter deliveries to reach 435,000 vehicles from a previous estimate of 490,000, while fourth-quarter projections were cut to 475,000 units from 515,000. These adjustments highlight potential demand issues that could signal either temporary challenges or deeper structural problems in Tesla’s core vehicle business. Investors are increasingly looking for contributions from Tesla's autonomy initiatives like the Full Self-Driving (FSD) system and Cybercab robotaxi to offset any continued weakness in car sales. However, regulatory scrutiny of the Cybercab rollout—particularly by NHTSA due to safety concerns around its design—is complicating efforts to scale this new growth engine. Institutional investor positioning remains mixed, with some hedge funds reducing their stakes while others maintain or increase holdings. Short interest has also risen slightly, indicating a cautious outlook among bearish investors.
Topics: Cybercab Full Self-Driving (FSD) Goldman Sachs growth initiatives Tesla vehicle deliveries