Tesla Price Cuts Strategy Not Working

From Volter Media.

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Tesla’s (TSLA) inventory in the US has reached a new high, which is worrisome at this time in the quarter, and it is pointing to price cuts maybe not working as well as the automaker intended.

Since the beginning of the year, Tesla has consistently reduced prices of its electric vehicles in the US to create more demand.

In some cases, prices were cut by over 20%.

During its earnings call last week, the automaker made it clear that it is monitoring new orders daily against production capacity, and it plans to continue adjusting prices in order to create the demand to match the production rate.

Unfortunately, there’s no easy way to track these metrics, but there’s a way to track Tesla’s inventory in the US, which can give us a general idea.

At the end of last quarter, Tesla disclosed having 15 days’ worth of inventory, which has been its highest in years. The automaker tried to justify it with vehicles in transit, but it’s hard to believe there were that many vehicles in transit at the end of the quarter.