Tesla reports its first-quarter financials after markets close late Monday afternoon.
Why it matters: Tesla leads the world in electric vehicle sales and dominates the U.S. market, but has only recently become consistently profitable.
What's next: Look for a seventh consecutive profit — Investor's Business Daily reports it's expected to be "huge" — on the strength of the company's record 184,800 deliveries in the first quarter.
The big picture: Tesla is facing headwinds and tailwinds going forward.
President Biden is pushing Congress to expand EV purchase incentives, which would help Tesla and GM. They have both reached the 200,000 per-manufacturer cap for the $7,500 consumer credits.
But Tesla also faces increasing competition as both long-established automakers and startups are bringing a whole bunch of new models to market.
And the Wall Street Journal notes Tesla faces "questions about the safety of its battery-powered vehicles following a recent crash in Texas and a protest in China."