"Results were weak, but not more than we expected, and critically, the demand outlook continues to be solid, with 2Q19 ahead of our previous estimates," Joseph Osha said in a note to clients on Thursday.
"We think it is now clear that U.S. demand should recover over the course of 2019, and that 1Q19 suffered from the impact of business being pulled into 2018." Tesla said in its earnings report on Wednesday that a decline in first-quarter Model S and Model X deliveries was due to weaker demand as a result of seasonality and what the company described as a"pull-forward of sales" in the fourth quarter.
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