$HSBA (+0.48%) according to $TSLA (+2.84%) reported sales figures for Q2 point to an "exceptional June", the jump in sales is "difficult to explain". Q3 could see tax policy-related pull-forward demand (ahead of the new tax law), but the June result "looks like an outlier". Analysts do not expect the June sales rate of 170,000-180,000 vehicles to become "the new normal". HSBC maintains a "Reduce" rating (Sell) and a price target of 120$.
