According to interim data, Tesla sold 422,875 cars during the latest quarter, a 36 percent increase from the previous year and a 4 percent increase from the last quarter. According to analysts, this number should have exceeded the 430 000 mark, which it did not, but it is nevertheless a record result for the leading electric car manufacturer. In addition, it has released a limited-edition beer.
Demand for the 3 and Y models rose 6 percent this quarter, while orders for the more expensive X and S models fell 38 percent. Tesla produced 440,808 vehicles thanks to increased production in Texas, Germany, and especially China, where pandemic-related restrictions have eased. The 20 percent global price cut is in response to analysts’ unmet expectations for 2021 and has sparked a price war in China between Tesla and rival electric vehicle makers BYD and Xpeng.
Introducing its own beer brand
Tesla has released a limited-edition beer called GigaBier, which it offers on its official website for €89. The package contains three 330ml bottles in shape inspired by Tesla’s Cybertruck model. Interestingly, the beer is brewed in Berlin, has Pilsner roots, and contains an exclusive variety of cyber hops and a special flavor. Elon Musk wanted to promote the new plant in Germany in this way and is talking about the possibility of producing beer there. The beer thus joins his bizarre products, including The Boring Company flamethrower, Tesla tequila, and Burnt Hair perfume. As was the case with the aforementioned fads, the beer sells online for several times the price, and the unusual design has made the bottle a valuable collector’s item.
Shares are doing well
Looking at the five-year performance of Tesla shares, we can see they are green. The company’s value is up 68 percent this year but still remains more than 50 percent below its record price set in November 2021. It was trading at around $207 per share on Monday’s trading day.*
Chart: Tesla’s shares movement over the past five years (Source: Google)
Great prospects
In recent months, we have seen an exceptional expansion in the field of electric vehicles, for example, in the planning of building new production plants and measures to ensure a greener future for the environment. Musk plans to visit Premier Li Qiang this month and help consolidate the brand’s position in China, as it is Tesla’s second-largest market. Moreover, the Shanghai plant is the company’s largest production center. The company’s marketing approach and prominent place among technology companies make it an interesting stock that can be an excellent addition to any investment portfolio. [1]Â
OlÃvia Lacenová, analyst of Wonderinterest Trading Ltd.
* Past performance is no guarantee of future results.
[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or on the current economic environment, which may change. Such statements are not guarantees of future performance. They involve risks and other uncertainties that are difficult to predict. Results may differ materially from those expressed or implied by any forward-looking statements.
