In a remarkable turn of events, Tesla (TSLA), the leading electric vehicle (EV) manufacturer, has been riding a wave of unprecedented demand, breaking records at its stores worldwide. As the electric revolution gains momentum, Tesla has emerged as a trailblazer, redefining the automotive industry and proving that sustainable transportation can be both desirable and economically viable.
Following the massive price cuts that occurred last week, Tesla (TSLA) is reportedly witnessing “unprecedented demand” in the United States.
Many stores are breaking records, and inventory is running low. Tesla announced a huge price reduction of up to $13,000 on Model 3 and Model Y vehicles in the United States last week. The company attempted to justify the price drops as a “partial normalization of cost inflation,” but most industry analysts think that Tesla required the price cuts to generate demand.
A week later, the source can confirm that the price drops are having the desired effect. According to sources acquainted with the situation, numerous Tesla outlets in North America set a new record for sales in a single week. According to one source familiar with Tesla’s sales, the business is witnessing “unprecedented demand” in North America as a result of the price decreases.
Tesla experienced a similar reaction in China following price decreases. Inventory is falling at an all-time low in numerous important US markets. In terms of new bespoke orders, Tesla is expected to run out of build slots for the North American market in the coming days.
That doesn’t normally happen until much later in the quarter. In addition to the immediate price reductions that have increased sales, many Tesla models are now qualified for the new $7,500 federal tax credit for electric vehicles in the United States. In some circumstances, this cuts the price of some Tesla automobiles by up to 30% versus last year.