I realize that much of this inventory relates to Tesla ramping up production faster than their competitors, but are other automakers having sales issues? View all comments How are sales doing for other automakers? What does demand look like for other automakers Electrek’s TakeĮveryone talks about inventory and Tesla's price cuts but where's the context? Model Y inventory was cut in half to about just 300 units following the two most recent price cuts. The only good news is that the price cuts appear to have worked for the Model Y, which is now Tesla’s best-selling vehicle. Model 3 also appears to start being a problem with inventory jumping 50% over the second half of the month despite the recent price cuts. The automaker appears to be stuck with over 1,200 Model X vehicles on inventory in the US. Interestingly, Tesla’s biggest problem appears to be the Model X: We can see a big drop at the end of the quarter and after Tesla’s second-to-most recent price drop, but despite a second price drop this month, the inventory appears to keep climbing. Sure enough, new inventory data, which doesn’t include vehicles in transit, tracked by Matt Jung shows that Tesla’s new inventory vehicles in the US have reached a new high of around 2,600 vehicles: The automaker tried to justify it with vehicles in transit, but it’s hard to believe there were that many vehicles in transit at the end of the quarter. Unfortunately, there’s no easy way to track these metrics, but there’s a way to track Tesla’s inventory in the US, which can give us a general idea.Īt the end of last quarter, Tesla disclosed having 15 days’ worth of inventory, which has been its highest in years. In some cases, prices were cut by over 20%.ĭuring its earnings call last week, the automaker made it clear that it is monitoring new orders daily against production capacity, and it plans to continue adjusting prices in order to create the demand to match the production rate. Since the beginning of the year, Tesla has consistently reduced prices of its electric vehicles in the US to create more demand. Tesla, which is touted as the clean energy revolutionary automaker, is much more than just a car manufacturer.Tesla’s (TSLA) inventory in the US has reached a new high, which is worrisome at this time in the quarter, and it is pointing to price cuts maybe not working as well as the automaker intended. The firm's three-pronged business model approach of direct sales, servicing, and charging its EVs sets it apart from other carmakers. Tesla, which has managed to garner the reputation of a gold standard over the years, is now a far bigger entity that what it started off since its IPO in 2010, with its market cap crossing $1 trillion for the first time in October 2021.? The EV king's market capitalization is more than the combined value of legacy automakers including Toyota, Volkswagen, Daimler, General Motors and Ford.Over the years, Tesla has shifted from developing niche products for affluent buyers to making more affordable EVs for the masses. The company's flagship Model 3 is the best-selling EV model in the United States. Tesla is the market leader in battery-powered electric car sales in the United States, with roughly 70% market share.
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