Deutsche Bank analysts suggested that Tesla (NASDAQ:TSLA) may fall short of Street expectations in Q3 for deliveries and production figures, primarily due to global plant downtime associated with upgrades and Project Highland.

The analysts revised Q3 delivery estimates downward to 440,000 units, marking a 6% decline compared to the previous estimate of 455,000 units. Looking ahead to 2024, they noted significant downside risk to earnings forecasts, citing a much lower volume outlook than what the market anticipates.

Deutsche Bank envisions Tesla guiding for approximately 2.1 million deliveries next year, which is considerably lower than the market consensus of 2.3 million deliveries.

However, the analysts also highlighted a potential positive aspect: with Tesla not aggressively pursuing higher volumes, there might be reduced pricing pressure in the coming year.

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