The fundamentals of the Tesla are very solid. For the third quarter, Tesla posted adjusted earnings before interest, taxes, depreciation and amortization of almost $5 billion, up 55% year-over-year, while revenue jumped 56% to $21.5 billion. 

Tesla delivered 907,573 vehicles in the first nine months of 2022, up 45% year-over-year, and produced 927,910 cars, up nearly 49%. 

Tesla’s long-term competitive position likely also improves and potentially further enhanced by (President Joe Biden's inflation reduction act).

The group remains on pace to grow sales by around 37% next year, generate $15 billion in free-cash-flow and consolidate its position as the word's dominant EV player.

Tesla's gap-to-competition can potentially widen, particularly as EV prices pivot from inflationary to deflationary. With respect to the (inflation reduction act) we believe Tesla is by far the best positioned OEM in terms of potential eligibility for consumer tax and production credits.

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