Tesla EVs are so unsold that stocks can be seen from space


by

jbdodane

The decline in demand for EVs is becoming clear, with American EV manufacturer Tesla laying off 10% of its workforce in April 2024. Furthermore, overseas media outlet Sherwood News reported that Tesla's delivery volume in the first quarter of 2024 will be approximately 47 million units lower than its production volume, and that inventory stored on the factory grounds can be seen from satellite images.

Tesla's unsold inventory is creating stockpiles you can see from space - Sherwood News
https://sherwood.news/business/elon-musk-tesla-extra-inventory-satellite-imagery/

Tesla produced 433,371 cars in the first quarter of 2024, but only delivered 386,810, resulting in an inventory of 46,561 cars. This figure is about double the figure from a year ago and the largest ever.



Tesla's free cash

flow fell by $2.5 billion during the period, 'primarily due to a production mismatch and rising inventory,' said the company's CFO, Vibhav Taneja.

So, to see where the piled-up Tesla inventory went, Sherwood News used the satellite data trading platform SkyFi to find out how the parking lot at Tesla's gigantic factory, Giga Texas , located outside Austin, Texas, is changing.

The results are below. As of October 2023 (top), some parking lots were full, but by March 2024 (bottom), many cars were parked in parking lots (areas surrounded by green lines) that had previously had almost no cars.



Additionally, Tesla vehicles have been parked in the parking lot of a shopping mall in St. Louis that is scheduled for demolition and that was previously

reported as being used by Tesla for inventory.



Tesla vehicle inventory has been confirmed not only in the United States but also in Australia, with Sydney-based television station 7NEWS reporting that 'about 2,000 Teslas arrive at the Port of Melbourne every month, but with no buyers, it has become a graveyard for Teslas.'

Tesla 'graveyard' photo shows major shift in Aussie EV market

https://au.news.yahoo.com/tesla-graveyard-photo-shows-major-shift-in-aussie-ev-market-222758407.html



'Sure, some of these Teslas may go to happy owners, but the sheer number of Teslas piling up is becoming harder to ignore,' Sherwood News said.

in Ride, Posted by log1l_ks