Tesla may see a pre-buy boost ahead of EV tax-credit ending, says Barclays' Dan Levy

EV Tax Credit Impact - The removal of the EV tax credit is a significant factor, with the current iteration ending on September 30th [2][3] - A pre-buy of vehicles is anticipated before the September 30th deadline, potentially followed by a demand fall-off [3][4] - Leasing penetration on EVs is high (north of 50% or 60%) due to attractive leasing deals related to the EV tax credit [5] Tesla's Fundamentals and Future - Tesla's fundamentals, while seemingly not currently impactful on the stock price, will eventually matter [7] - Tesla deliveries are expected to show sales lagging, with a likely significant decline in volume this year [7][8] - The new low-cost model, initially expected in the first half of the year, has not been released [8] - Weaker near-term business could impact funding for next-generation efforts like AV and Optimus robots [9] Market Perception - There is a perception of Model 3 deals being attractive, with mentions of 2.99% or 3.49% monthly rates [6] - Regulatory overhang regarding robo taxi remains a factor for the stock [7]