By Jordan Fitzgerald

Copyright brisbanetimes

But with the stock trading close to $US460, not far from the all-time high of $US479.86 it hit on December 17, the question is what will its sales for this quarter look like – and is the company at a peak in deliveries, at least in the short term.

“Tesla trades at an eye-watering multiple, its earnings are shrinking amid softening EV demand and cut-throat competition, and EV credits are about to expire, further dampening sales,” said Irene Tunkel, chief US equity strategist at BCA Research.

‘Tesla’s core business is worth $US150 a share. Anything investors pay over that for robo-taxis and robots is ‘Elon hyperbole’.’Tesla investor Ross Gerber

The issues surrounding Tesla’s revenue and outlook are real. Tuesday was the last day that car buyers could access tax credits for electric-vehicle purchases because the Trump administration eliminated the incentives. Analysts expect third-quarter EV sales to show a jump across the board after consumers rushed to take advantage of the disappearing discount. From here, however, EV sales are likely to slow considerably, they say.

Leaders within the industry have expressed their own concerns. Ford chief executive Jim Farley said on Tuesday that US EV sales are likely to be cut in half, dropping from about 10 per cent of the market to 5 per cent as a result of Trump’s pro-petrol policies. Musk has also warned of “a few rough quarters” for Tesla due to America’s changing EV policies.