Reshab AgarwalTesla has seen a steady increase in the no of registrations and deliveries. In 2020, the car manufacturer delivered a total of 499,550 deliveries, which was a huge increase from 2019. And the recent data shows that the company saw a 63% increase in car registrations in California. This was during the 4th quarter of 2020. This dramatic increase in the number of registrations is due to the great sales of the Tesla Model Y. It is the cheapest offering by Tesla and comes just under $35,000 for the base model.
The sharp growth of Tesla
Image Source: The Driven
Tesla has been consistently growing by over 50% every year. In 2019, the car manufacturer’s total no of deliveries was around 3,50,000, and in 2020, it increased to almost 500,000. At the same time, the company’s share prices have also increased drastically from $100 at the beginning of 2020 to more than $800 at present. Tesla has also been entering more countries like India and Israel. At the same time, it is also planning to launch more vehicles that are cheaper and compete well in price-sensitive markets.
In a tweet, Tesla said that with their latest $25,000 – $30,000 vehicle, they aim to capture about 90% of the entire automotive market. Tesla also performed better than the expected results by the analysts. Even in the pandemic, the company saw a substantial growth both in the number of registrations and deliveries, showing the scale of the company.
The overall growth of the company’s deliveries in December
The third quarter for the company in the US wasn’t particularly great. It made total delivery of 16,200 vehicles. But in the last quarter, the no of deliveries increased by 22,117. Do note that almost half of the total no of deliveries made by the company is their cheapest Model Y. While for their Model 3, demand fell on a yearly basis by around 34%. The total registrations in the country were 44,749, with Model Y covering half of it.
In China, too, the company saw a major surge in demand and sales after it started manufacturing in the country. The country’s manufacturing resulted in a huge price fall in the prices of the vehicles gathering crowd like black Friday. At the same time, the way Tesla has been improving its infrastructure, service, and the no of charging stations has also resulted in a surge in their sales. The in-house companies of China like Nio and Li-Auto are also not able to compete with the growing monopoly of Tesla in the EV market.
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