Tesla to release Q3 delivery figures prior to robotaxi unveiling.

• Tesla is set to report third-quarter vehicle production and delivery numbers on Wednesday.
• According to FactSet Street Account, analysts predict that Elon Musk's automaker will report approximately 463,310 deliveries, which represents a 6.5% increase compared to the previous year.
• The EV maker's shares have been rising for weeks in anticipation of a stronger third-quarter deliveries report and the upcoming robotaxi event on Oct. 10.

is set to report third-quarter vehicle production and delivery numbers on Wednesday.

According to FactSet StreetAccount's estimates, analysts anticipate that Elon Musk's automaker will deliver approximately 463,310 vehicles, with around 435,900 being Model 3 sedans and Model Y SUVs.

In the second quarter of 2024, Tesla reported deliveries of 443,956 vehicles and production of 410,831 vehicles, compared to the same period a year ago when it reported deliveries of 435,059 and production of 430,488 vehicles, before it started selling the Cybertruck.

If Tesla exceeds analysts' expectations for deliveries in 2024, it would represent a 6.5% year-over-year increase after declines in the first and second quarters.

Units sold reported by Tesla are not explicitly defined in their financial disclosures, but deliveries serve as the closest approximation.

Tesla offered incentives and financing plans to boost sales in mainland China, where the market for EVs is the largest, in the third quarter, as it had done earlier in the year.

Tesla has not provided specific guidance for the full year of deliveries in 2024, but the company anticipates a lower delivery growth rate this year compared to the previous year. As a result, Wells Fargo expects Tesla to deliver 1.63 million full-year deliveries and 440,000 third-quarter deliveries, which is below the consensus.

Goldman Sachs predicted that Tesla's deliveries and production will align with market expectations, mainly due to the strong demand in China. As a result, the investment bank advised clients to purchase call options before the upcoming report.

Robotaxi day in focus

Over the past month, EV maker shares have increased by more than 20%, driven by expectations that deliveries will improve year over year and sequentially in the third quarter, as well as in anticipation of the company's robotaxi day on Oct. 10.

Tesla intends to hold its "We, Robot" marketing event at a movie studio in Los Angeles, inviting both investors and fans.

Tesla is predicted to reveal the design of a "dedicated robotaxi," also known as the CyberCab, and may give updates on its humanoid robotics project "Optimus" and other automotive and AI-driven products and services.

In the first half of 2024, Tesla's EV sales and revenue decreased, and the company has not yet delivered a self-driving system that can function as a robotaxi without a human driver ready to steer or brake at any time. Additionally, Tesla renamed its premium driver assistance option to Full Self-Driving Supervised, with a disclaimer-style term added at the end.

Several companies in the autonomous vehicle industry are now offering commercial robotaxi services, including Waymo, Pony.ai, and Baidu in China, and Zoox in the U.S.

Tesla brand erosion

The association of Tesla with Musk has dampened some customer interest in purchasing Tesla vehicles.

In July, the company's favorability among both liberal and conservative consumers decreased, according to CivicScience. Tesla's favorability among Democrats dropped to 18% in July, down from 39% in January, while it declined among Republicans to 22%, down from 36% in January.

In recent years, Musk has become more vocal about his right-wing political beliefs on social media, despite his leadership roles in SpaceX, X, and xAI.

He publicly endorsed former President Donald Trump in July and frequently posts screeds on X regarding illegal immigration, election fraud, crime, violence, and other contentious topics.

According to reports by The Associated Press, CNN, NBC News, The New York Times and others, he has shared political misinformation and deepfakes with his massive online following on X. Before Musk acquired Twitter, now known as X, his feed focused more on Tesla and SpaceX, according to an analysis by The Washington Post.

The claims made by Musk on X about Haitian immigrants in Springfield, Ohio, eating pets were baseless, as stated by the Springfield Police Division, Ohio Gov. Mike DeWine, and other local groups.

WATCH: Tesla moving higher ahead of robotaxi event