Although the entire world faced a lot of trouble due to the pandemic in 2020, it definitely turned lucky for Tesla. According to Tesla, the year 2020 was the luckiest for Tesla because in the same year, it managed to deliver record highest number of electric vehicles.
As per Tesla, it managed to pull through a total of 499,550 deliveries in the year 2020, which was higher than its expectations for the particular year. Due to the pandemic, the company had already forecasted a tremendous loss to its sales and deliveries.
However, things turned out to be opposite to the company’s predictions as the company managed to sell quite a large number of electric vehicles in China. At present, China is the largest electric vehicle market in the entire world so making its presence known in the country is a huge achievement for any company.
According to stats from Tesla, the company ended up delivering 150,000 vehicles in China in the year 2020. This means that around 30% of the total sales for Tesla were achieved only from China.
While the year 2020 turned out to be the best for Tesla, the year 2021 is appearing to be the exact opposite of it. Whether it is technology, new products, faults, quality issues, or business endeavors, Tesla is finding itself being at the edge of a cliff.
Since the start of 2021, the electric vehicle manufacturing giant has been facing a huge downfall in terms of its stocks.
The first major problem the company faced was a global one pertaining to the shortage of semiconductors. As Tesla is a fully electric car manufacturing company, therefore, it needs the most amount of chips in order to develop and run its cars.
Then there were several complaints about the company’s autonomous software that resulted in creating a lot of issues for the company. Many people recorded the Tesla drivers sleeping while their cars were running on autopilot. This led the company to face a lot of problems from the legal authorities in the United States.
Then Tesla faced another software-based problem in China, which resulted in the company having to recall more than 200,000 model S and model Y cars, including other models.
Then there were problems found with Tesla’s latest Model S Plaid vehicles where one vehicle ended up catching fire.
Following to that was Telsa’s announcement that users would need to acquire monthly subscriptions for the autonomous software. This also resulted in angering many users who were unhappy having to install new $1,500 chips in their vehicles for the new software to work.
Now, there are reports that Tesla has increased the prices of its vehicles, which is bound to bring more heat to the company and lead the investors to move to different stocks.
According to Tesla, it has increased its Model 3 Long Range prices by $1,000, Model Y Long Range prices by $1,000, while other Model 3 and Model Y have no change to their prices.
The company has revealed that the price of Model S Long Range vehicle has also been increase by $5,000.