Tesla investors have a lot to be excited about, with the company’s focus on autonomy, AI, robotics, cars, and energy. However, as the deadline for the $7,500 EV tax credit approaches on September 30, some investors may be in for a surprise.
The imminent end of the tax credit has raised some skepticism among investors, as the lack of a $7,500 discount for purchasing a clean energy vehicle could potentially deter many people from being able to afford Tesla’s industry-leading EVs. The company has been actively reminding consumers through social media and email communications about the deadline, emphasizing that the discount will soon be a thing of the past.
With the focus on quarterly deliveries still playing a significant role in determining demand, Tesla is making a big push to capitalize on the final quarter of the tax credit. This urgency is evident in the increasing wait times for Tesla vehicles, with recent reports showing that Model Y delivery times have been extended from 1-3 weeks to 4-6 weeks.
The surge in demand is evident, with more people ordering Tesla vehicles before the tax credit expires. Influential Tesla figure Sawyer Merritt has noted an increase in DMs from individuals stating that they are purchasing vehicles before the deadline. While this may not be a definitive indicator of increased orders, it does suggest a growing interest in taking advantage of the tax credit.
Investors could be in for a pleasant surprise following the release of the Q3 delivery report, as all signs point to increased demand this quarter. With many consumers rushing to make purchases before the tax credit expires, Tesla is expected to see a strong rebound in Q3. Whether delivery figures will exceed expectations remains to be seen, but the outlook for a successful quarter for Tesla is promising.
In conclusion, the impending end of the $7,500 EV tax credit has sparked a sense of urgency among consumers and investors alike. As Tesla navigates the final days before the deadline, all eyes will be on the Q3 delivery report to gauge the impact of the tax credit expiration on the company’s performance.