10:57 AM EDT, 09/25/2024 (MT Newswires) -- Tesla (TSLA) deliveries of new electric vehicles appear to be running slightly stronger than originally thought, analysts at RBC Capital Markets said in a note emailed Wednesday as they raised their Q3 forecast for the company by 1.3% over their prior projections to around 460,000 units.

RBC analysts, citing registration data, estimate US deliveries grew around 7.6% during Q3 over the prior quarter, deliveries in China were up nearly 24% and European deliveries slid 8.6% quarter-over-quarter.

Insurance data from China similarly suggests accelerating sales for the company since June, they said, while sales of Tesla vehicles in the European Union were negatively affected by EU tariffs on Chinese exports, according to the note.

RBC analysts reiterated their outperform rating and $224 price target for Tesla shares.

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