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3w ago

Tesla Shares Slide After Analysts Slash Q2 Delivery Forecasts

The move reflects growing concerns over potential early expiration of the $7,500 EV tax credit, escalating political tensions plus eroding demand from increased competition

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Overview

  • JPMorgan cut its Tesla Q2 delivery forecast by nearly 10% to 360,000 vehicles, marking a 19% year-over-year decline and coming in below Bloomberg’s consensus of 392,000.
  • Tesla stock dropped about 5% on Tuesday to just over $303 per share, bringing its year-to-date loss to roughly 20-25%.
  • Options markets are pricing in an additional 5% swing in Tesla shares by the end of the week around the Q2 delivery results.
  • Deutsche Bank revised its Q2 delivery estimate to 355,000 vehicles but retained a buy rating with a $345 price target.
  • Investors worry that the potential early expiration of the $7,500 federal EV tax credit and Elon Musk’s public feud with President Trump could further depress demand.