Tesla's earnings report is coming?! Why not take a look at the latest sales data and situation first!!

According to sales data from Kelley Blue Book, only 268,909 new electric vehicles were sold in the U.S. in Q1, accounting for 7.3% of total new vehicle sales, a decline from Q4 2023. Although EV sales have grown year-over-year for 15 consecutive quarters, the growth rate has slowed, marking the first quarter-over-quarter decline since Q2 2020.

Meanwhile, it's worth noting that major automakers are launching more new models and offering more incentives to stimulate demand. The average incentive spending by manufacturers increased by 11% to $3,121, up 102% year-over-year. The ratio of incentives to the average transaction price also rose from 5.9% last month to 6.6%, the highest level since May 2021.

Additionally, estimates show that the average price of electric vehicles in the U.S. in March was $54,021 (down 9.7% year-over-year), still significantly higher than the overall new vehicle average price of $47,218 (down 1% year-over-year and 5.4% lower than December 2022). Considering that EV inventory days are notably higher than gasoline vehicles (114 days vs. 74 days) and U.S. new vehicle inventory in early March was close to 2.74 million units, up 52% year-over-year, the remainder of the year may see continued intense price wars.

After reviewing the overall market, let’s take a closer look at Tesla's performance.

Data shows Tesla's U.S. sales fell 13.3% year-over-year, with approximately 140,000 vehicles sold, far below its previous double-digit growth. The average transaction price was around $52,000, down 13% year-over-year, suggesting that even with price cuts, sales haven’t significantly improved.

Moreover, while Tesla remains the market leader, its market share dropped from 61.7% last year to 51.3%. The MODEL Y and MODEL 3 still account for nearly half of U.S. EV sales, with market shares of 35% and 11%, respectively.

Looking at other automakers, nine brands—including BMW, Cadillac, Ford, and Hyundai—saw EV sales grow over 50% year-over-year. Although their sales remain far below Tesla's, their share of EV sales is steadily increasing, indicating growing acceptance of EVs among premium car buyers as these brands aggressively push electrification.

As for earnings, will Elon Musk deliver a surprise? Any trading ideas? Personally, I might consider buying some options.

What do you all think? Feel free to share your thoughts in the comments! If you enjoyed this, don’t forget to like, share, and comment—and most importantly, may your investments always prosper!