What Do We See From Tesla’s Second-quarter Sales Result?
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The first half of the year just passed, and Tesla Motors’ sales jumped 52% higher than the company had forecast. What does this number mean to both the company and the electric vehicle’s market?
After two first quarters, Tesla sold 21,000 cars, reaching about 40% of the number they’ve forecast for this year — 55,000 cars. It means they only have to grow about 12-15% in the next two consecutive quarters to meet their projection. And with the introduction of the “Ludicrous Mode”, Tesla seems to have no problem in achieving its target since the demand is huge and the orders have been flowing in for that model.
The real factor is also going to be the Model X that is coming by the fourth quarter of this year. Right on time and on target! It’s probably a more important metric than what we saw on the first half of the year.
Tesla likely has become the biggest seller of electric vehicles in the U.S. However, the real market for them is when their Model 3 comes out. Right now, half of the production costs is for the battery, but Elon Musk has been banking on improving the battery density as well as to reduce the costs of making it. By 2017, the costs will come down.
While most companies throughout the world are struggling to sell their electric cars in an environment with continued low prices for gas and diesel, Tesla has established a huge number of fans who are willing to pay $100,000 for a Tesla, but never want to pay more than $60,000 for a gasoline car. In June, Nissan reported it sold 9,816 Leafs in the first six months of 2015 in the U.S. Meanwhile, Tesla sold 21,552 globally in that period. And don’t forget a Nissan Leaf starts at $28,500, while Tesla’s entry-level Model S starts at $76,000.
For more information from Bloomberg’s Analytics, let’s watch this video: