Tesla (TSLA) is expected to deliver 470,000 vehicles in Q3, ahead of consensus estimates, UBS analysts said in a Wednesday note.
UBS expects the company to report Q3 deliveries on Oct. 2.
"While we don't believe the buyside is overly focused on auto units, we believe buyside expectations have also come up in recent weeks and would peg the range of expectations at 460-480k," analysts said.
UBS said that in the first two months of the quarter, deliveries in Europe's top eight markets and China were down from a year earlier.
Analysts said that delivery metrics are not very significant for the stock, as investors are increasingly paying less attention to the traditional auto business.
UBS retained a neutral rating and a $385 price target on the stock.
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