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Gordon Johnson: Elon Musk reduced Tesla 2030 car forecast from 20 million to 5 million units

Gordon Johnson: Elon Musk reduced Tesla 2030 car forecast from 20 million to 5 million units
Elon Musk lowers 2030 car outlook

Gordon Johnson, CEO and analyst at GLJ Research, highlighted that Elon Musk first made an on-record claim of producing 5 million cars a year at a Tesla shareholder meeting in May 2023, based on two next-generation models. Johnson noted that prior to this, Musk had projected a production of "a few million" by 2025 in 2015 and 20 million per year by 2030 in 2020. Johnson questioned whether observers should be excited by Musk reducing his 2030 projection from 20 million to 5 million units.

Johnson previously reported that Tesla's third-quarter deliveries rose 1.4 percent, with U.S. deliveries down an estimated 9.2 percent and China up 17.8 percent, as the company shifted to less profitable models (TSLA Q3 deliveries). In a separate note, he highlighted that Cathie Wood's 2022 Tesla delivery forecast missed the actual number by -90.4 percent (Tesla delivery forecast difference). Both references add context to Tesla's shifting production targets and industry projections.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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