Tesla's Q3 Ests Are Fading On Weaker China Sales—Again

Market consensus on Q3 deliveries has been dropping toward my 330,000 estimate on weaker China sales, as in Q2. This time they can't blame Covid-shutdowns; it's softer demand despite lower prices.

September is proving to be a pivotal month for Tesla (TSLA 0.00%↑) in China, confirming the course for the entire third quarter and likely the rest of the year and beyond.

That’s the problem.

The quarter is again tracking deliveries potentially falling short of Tesla’s targeted 50% y/y growth, following the disappointing 26% increase in the second quarter (see So…