Given 's (NASDAQ: TSLA) extremely pricey valuation, with a price-to-earnings (P/E) ratio of 75, investors need to constantly assess the likelihood of continued strong growth. A valuation like this means the price of the growth stock is based largely on future expectations for higher earnings growth -- not the company's earnings power today. Fortunately, Tesla's most recent quarterly update gives reasons to be optimistic about the company's prospects for stronger growth. Indeed, Tesla investors may now have enough data to make a reasonable assumption that the company could see rapid growth in deliveries next year, too.

Here are some of the main reasons Tesla will likely grow deliveries substantially in 2024 (albeit at a slower growth rate than in 2023).

First, there's Tesla's upcoming launch of its all-electric pickup truck called Cybertruck. In its second-quarter update, the electric car maker reaffirmed that it's on track to deliver the first Cybertruck vehicles this year. 

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Source Fool.com