By Tesla’s Q1 earnings will test investor patience as Elon Musk balances Cybertruck production hell against fading EV demand. Key metrics to watch:
- Production Numbers:
✓ Cybertruck output (Street expects 18K units)
✓ Model Y refresh delays
✓ Giga Texas expansion - Financial Health:
✓ Auto gross margins (target: 18.5%)
✓ Energy storage growth (Solar Roof flop?)
✓ FSD revenue recognition
Bear Case:
- Lithium costs up 22% QoQ
- European EV subsidies expiring
- Musk’s xAI distraction
Bull Case:
- Robotaxi unveil June 2025
- Megapack demand surging
- FSD v12.5 rollout