Aktien TSLA

[Credde]

Var ju inte tokigt att man överträffade förväntningarna! Finns väl lite farhågor:

Tesla pekar ut den självkörande Cybercab och eldrivna lastbilen Semi som de viktigaste nya lanseringarna på väg in. Elon Musk sa under rapporteringen att produktionen av Cybercab redan har startat och att Semi ska börja produceras snart.

Hur många år har Semi skulle snart börja produktion...?

https://www.tradingkey.com/analysis/sto ... tradingkey

Alarmingly, inventory pressure continues to climb. At the end of the first quarter, global days of supply reached 27 days, a significant increase from 22 days a year ago and 15 days in the previous quarter.

The gap between production and deliveries has exceeded 50,000 units, a discrepancy almost entirely concentrated in the Model 3/Y segment. This both reflects an accumulation of channel inventory and suggests that end-market demand is under pressure.

[Credde]

Här är lite mer intressant.

https://electrek.co/2026/04/22/tesla-ts ... s-margins/

We’ve been tracking Tesla’s dependence on non-operational income for a while. In Q1 2025, regulatory credit sales of $595 million were the only thing keeping Tesla profitable — without them, the company would have lost money.

Regulatory credits dropped to $380 million in Q1 2026 (1.9% of auto revenue, down from 3.7%), but one-time warranty and tariff benefits stepped in to fill the gap. Each quarter, there’s a different non-recurring item propping up the headline numbers: regulatory credits, warranty reserve releases, tariff refunds, stretched payables.

The underlying automotive business does show some real improvements — higher ASPs, lower material costs. Automotive gross margin excluding regulatory credits improved to 19.2% from 12.5% a year ago. But Tesla refuses to quantify how much of that improvement came from one-time items versus sustainable operational gains, making it impossible to separate the real from the artificial.

Let’s call this what it is: Tesla made every possible move to present Q1 2026 in the best possible light during a quarter where the actual business showed almost no growth.

The company released warranty reserves, booked tariff refund windfalls, stretched supplier payments by 10 days, took on billions in new debt, and then presented the results through non-GAAP metrics that strip out over $1 billion in stock compensation. None of this is illegal — it’s all standard corporate finance. But the cumulative effect is a set of financials designed to tell a story that the underlying operations don’t support.