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Tesla’s Next Major Growth Phase May Be Years Away, Evercore Warns
- Carmaker increasingly is a ‘2027 story,’ analyst writes
- CEO Musk has described company as between waves of expansion
Evercore expects Tesla to deliver around 2.7 million vehicles in 2026, meaning its estimate for earnings per share that year is now 18% to 20% below consensus.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Tesla Inc. is likely years away from fully ramping a new lower-cost model, which will take the company longer than Wall Street is assuming, Evercore analysts said after touring the carmaker’s Texas factory.
“Tesla increasingly is a ‘2027 story,’” Evercore analysts led by Chris McNally wrote in a report Monday. He questioned whether the best-case scenario for a cheaper vehicle colloquially referred to as Model 2 is more like 500,000 units in 2026, rather than consensus for 1 million-plus.