Tesla IncTSLA
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Tesla set an October 1 demo date for the long-delayed second-generation Roadster, a product/R&D milestone with no clear near-term financial impact.
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Electrification & Mobility▼ · 1 stocks
Tesla IncSpace Economy▲ · 1 stocks
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Goldman Sachs Cuts Tesla Delivery Forecasts on Weak China, US, Europe Sales
Goldman Sachs has cut its delivery forecast for Tesla, lowering its third-quarter projection to 435,000 vehicles from 490,000 and its fourth-quarter forecast to 475,000 vehicles from 515,000, citing weaker sales trends across the company's most important markets. The bank noted that monthly and weekly sales in China, the US, and Europe are tracking below earlier expectations. The new Q3 projection sits below the consensus estimate of 456,000 vehicles, while the new Q4 forecast remains above the consensus estimate of 462,000. With Tesla's core vehicle business under pressure, its investment case increasingly depends on autonomy initiatives, including the Full Self-Driving system and the Cybercab robotaxi, which is now offering services in Austin, Texas, but faces an NHTSA investigation into whether Tesla properly self-certified the vehicle as compliant with federal motor vehicle safety standards. According to Insider Monkey's database, the number of hedge funds holding Tesla shares fell to 116 in Q2 from 123 in Q1, and as of August 31, 74.2 million Tesla shares were sold short, representing 2.35% of the public float, with bearish bets up 7.27% from the previous reading.
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Lucid and Bolt Partner on Autonomous Mobility in Europe
Lucid Group and the European shared mobility platform Bolt announced a strategic partnership on September 17 to develop and deploy autonomous mobility services across Europe, sending Lucid shares up nearly 6% on the day. The tie-up combines Lucid's software-defined vehicle platform with Bolt's European data, operating infrastructure and mobility expertise, with services to run on vehicles built on Lucid's upcoming Midsize platform. Bolt plans to deploy at least 25,000 fully autonomous vehicles across multiple European cities and countries, supporting its goal of 100,000 autonomous vehicles on its platform by 2035, though financial terms of the partnership were not disclosed. The deal lands as Lucid remains under significant financial pressure: in its Q2 2026 results, production rose 24% from a year earlier, deliveries climbed 19% and revenue jumped 56%, but the quarter carried an adjusted net loss of $2.78 per share against a Wall Street consensus estimate of $2.41 per share, and cash burn reached $1.47 billion, up from just over $1.01 billion a year earlier. Management said it has identified $1.4 billion in cash flow improvements for 2026 across operating costs, capital spending and working capital, while short interest stood at 45.81% of the float as of August 31 and the 12 analysts covering the stock split 25% Buy, 50% Hold and 25% Sell, with a median 12-month price target of $7 implying more than 60% upside.
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XPeng Fair Value Cut to US$19.06 as Analysts Split on Growth and Execution
Simply Wall St lowered its fair value estimate for XPeng to US$19.06 from US$22.36, as updated Street targets for the Chinese automaker now range roughly between US$12 and US$24. JPMorgan, Citi and BofA all kept positive ratings while trimming their price targets into the US$18 to US$24 range, with JPMorgan cutting from US$27 to US$24 and UBS moving from US$18 to US$12. UBS highlighted XPeng as an emerging Chinese automaker in humanoid robotics, pointing to a robotics capital raise of over US$900m at a valuation above US$6.3b as longer term optionality beyond the core auto business, while Barclays pointed to the L03 model as important for second half 2026 results and for XPeng reaching 10,000 overseas deliveries by Q4. On the bearish side, UBS and Barclays flagged pressure on the core auto business from intense competition, supply chain issues, short product cycles and lower than expected Q3 guidance, and BofA reduced its 2026 to 2028 volume assumptions by mid single digit percentages. The revised model also adjusted CN¥ revenue growth to 19.66% from 21.95%, net profit margin to 2.46% from 3.44%, future P/E to 56.08x from 44.61x, and the discount rate to 12.88% from 12.04%.