Tesla Model X Sales Are Slow But Still Better Than Rivals’

18
Tesla Model X Sales Are Slow But Still Better Than Rivals’
Blomst / Pixabay

Tesla’s Model X is still nowhere close to mass production, and this is despite the fact that the company first showed the car in 2012. But it turns out that Tesla is not the only car maker that is facing such issues. There are many brands that are doing even worse.

Play Quizzes 4

Same rivals doing poorly

So far, Tesla is known to have delivered around 13 units, and there is no information on when and how quickly the EV firm will be able to ramp up production. As per a list from EV Obsession, Tesla is not the only one to go slowly, as there are many other car makers that are having a hard time selling their EVs.

London Value Investor Conference: Joel Greenblatt On Value Investing In 2022

The first London Value Investor Conference was held in April 2012 and it has since grown to become the largest gathering of Value Investors in Europe, bringing together some of the best investors every year. At this year’s conference, held on May 19th, Simon Brewer, the former CIO of Morgan Stanley and Senior Adviser to Read More

In November, Tesla sold just five Model Xs, and rival Mitsubishi was able to sell just four units of its i car. On the other hand, Honda sold just one unit of the Accord PHEV and was not able to sell a single unit of its Fit EV during the same period.

Even though November was an overall bad month for EVs, Tesla did manage to push its sales up on a month over month basis. The jump can be attributed to the addition of a second line to its Fremont plant for the production of the Model S.

When will Tesla ramp up Model X sales?

There is one question that is concerning all investors, and that is when Tesla will be able to ramp up sales and production of the Model X. Considering the low shipment volume so far, the firm is unlikely to ship 1,200 Signature Model Xs in the fourth quarter. Also there is no information on when the company will be able to get the wait time to a reasonable level.

In November, the company did open its online design studio for non-Signature bookings of the Model X, but the EV firm gave no information on when it will be able deliver these cars. Elon Musk has acknowledged that producing the Model X is not an easy task.

A major issue appears with the Model X’s second row of seats, which according to Musk is a “sculptural work of art. The company has been facing trouble in getting a third party to assemble them. To address the issue, Tesla has started making seats in-house, and it is still to get an expert in it.

On Friday, Tesla shares closed down 1% at $230.38. Year to date, the stock is up by over 3%, while in the last one month, it is down by almost 1%.

Updated on

Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com
Previous article World War 3 Is Nowhere In Sight; Russia Can’t Afford It
Next article Sardar Biglari: Evil Genius?

No posts to display

18 COMMENTS

  1. The Honda Fit EV has been discontinued since the end of 2014. Despite the fact that there was high demand for it, Honda only built 1,100 of them to comply with regulations then killed the program.
    It’s obvious that this article totally lacked research preparation as sounded off in all the comments below about the sales, deliveries, orders, production capabilities, and the differences between them and the various implications of them. Over 20,000 people have put up money for the Model X already and are simply waiting for Tesla to get everything straightened out to ramp up production. Quality is top priority at Tesla right now.

  2. MODEL S sales have gained a boost from the X publicity people don’t want to wait so they are buying MODEL S instead. That car is doing very very well in both Europe and North America. The X is an amazing car but a TOTALLY off mission distraction on the road to the affordable MODEL 3.

  3. Disappointing that they can’t just add battery capacity and see what happens. That one tweak would make it far more useful and marketable… same is true for all other non-Tesla EVs right now…

  4. Us this author genuinely ignorant of the fact that approximately 1000 customers have paid for this car and are now awaiting delivery and another 30,000 have placed deposits awaiting their opportunity to configure options and pay? Or is this an attempt to deceive? Either way it is unacceptable in a financial publication. Editors take note.

  5. Uh, the difference is that Tesla has very strong demand. They are ramping up sales very slowly to keep the quality at the highest levels. The other cars are just not in demand. See the difference? One is demand retrained, the other is supply restrained. Thank you for understanding…

  6. blah blah blah. I am sure some will bow out but most will stay in. And chances are, those people that do bow out will end up buying one in the future anyway. Enough with the “sky is falling”.

  7. The i-MiEV is dead. Mitsubishi killed it off with good reason . . . it doesn’t sell. But it deserves a place in history on the first EV you could buy for less than $30K.

  8. And they still can’t make enough Model Ses either! The Model X has tens of thousands of reservation holders, a lot more than the S had at its own introduction. It surpassed Model S reservations even a year ago…..I’m sure Mitsubishi is also telling the dozen buyers of its EV they just can’t keep up with demand!

  9. Another article that points towards slow deliveries and tries to equate it with slow sales. Tesla is backed up nearly a year on deliveries for the Model X. Sales are strong, now that there is more brand awareness than when the Model S was launched. They are simply ramping production up slowly to ensure that each unit that rolls off the line is a quality product. They are doing it right.

  10. This article is brain-dead. The Tesla Model X is sold out for about a year. They are having no trouble selling the Model X. It has simply been a supply issue which they clearly said would be resolved by the end of the year.

    Try and catch up.

  11. Can’t make it fast enough, cant make it at all, last I checked 2 months and only 13 delivered… They better get it together because sooner or later the banks and investors will want there money back..

  12. You are comparing between people who made the car but no one buys and people who can’t make the car faster for all of the reservations. It’s two completely different things.

Comments are closed.