Tesla continues to make more accessible its electric vehicles, despite the fact that the latest sales data say about unexpectedly good results on the background of General decline of the market. The price of Model Y was reduced to only four months after release.
Tesla stock (TSLA) continued its growth before the opening of trading on Monday, after winning last week, and ended with the rise of 10.8% on Friday.
Weekend Tesla brought another good news to his fans – reducing the price of its new crossover Model Y for $3000, with $52 990 to $49 990.
Delivery Y Model began in mid-March, the second fin. quarter (April to June) total number of deliveries of Model 3 and Model Y was 80 050, which significantly exceeded the analytical predictions in 59 250 electric cars. At the same time, sales of the Tesla exception, as traditional automakers, including General Motors (GM), Fiat Chrysler (FAUC), and Toyota Motor, and Ford (F) reported a decline in quarterly sales of more than 30%.
Given that Tesla sales are going well and the company is stepping up the pace of production, perhaps a new price Model Y will be able to maintain a high level of profitability. In April, Tesla announced that the Model Y already profitable.
Gene. Director of Tesla Ilon Musk has high hopes for strong sales of the Model Y, which may surpass all other models of electric cars of the company. Anyway, this step Tesla seem right, given the high standards of the annual sales, which set a company and negative factors of the pandemic and the global decline in car sales.
“The price reduction is the recognition that Tesla is not immune from the significant weakness of demand in North America”, says Roth Capital analyst Craig Irwin.
However, investors should not frighten the decline, given that Tesla is not the first time lowers their prices lately. In may, the automaker lowered prices for Model S and Model X for $5000 and $2000 respectively.
Tesla’s shares are traded on the highs, given the expectation of a fourth consecutive quarter with a profit (report scheduled for July 22), the possible inclusion in the S&P 500 index, and the enthusiasm around the announcements of new batteries, and the company must report the event Battery Day on September 22.
Over the past 12 months, Tesla’s shares rose 547,4% to $1544,65 per share.