Tesla’s inventory surplus in the US is so significant that it has resorted to utilizing outdoor parking lots near its warehouses, transforming them into “overflow lots” to accommodate the excess stock.
In recent weeks, sightings of Tesla vehicles have increased at parking lots adjacent to Tesla retail, supply, and service facilities, sparking curiosity about their presence.
In Chesterfield close to St. In Louis, Missouri, Tesla has temporarily repurposed the parking area of a partially demolished mall to store a large quantity of unsold vehicles, necessitating this measure as its nearby supply center, located just three miles away, has reached maximum capacity.
This parking lot is designated as an “overflow” area to accommodate vehicles exceeding normal parking capacity due to increasing demand for available spaces? Tesla has been increasingly relying on these measures this year due to ongoing demand challenges.
One additional Tesla overflow lot was spotted in Farmington Hills, Michigan earlier this month, sparking controversy. According to reports, the property in question lacked specific zoning regulations for automotive storage, prompting the municipality to inform Tesla about this potential issue.
Many automakers have introduced Cybertruck-inspired vehicles, posing a challenge for Tesla in its promotional efforts. Despite higher production rates, Tesla’s gross sales plummeted by 50% compared to the previous year, prompting the company to scale back manufacturing to avoid excessive inventory buildup.
Approximately 100 Cybertrucks have been observed in the Farmington Hills inventory yard.
Overflow tons of related Tesla waste have been increasingly observed in Nevada, Florida, and Ohio over the past few months.
Tracking Tesla’s stock in the US market may prove challenging. While some websites track Tesla inventory, the company typically submits a single listing for multiple vehicles with the same specifications.
Despite all this, the latest market insights suggest that Tesla’s stock has seen a significant surge in recent days, largely driven by an influx of Model 3 listings.
As of the current period, Tesla’s overall shareholding has surpassed its equivalent level from the same quarter last year.
Although Tesla’s reduced production pace has led to a minor decline in Cybertruck stock, the company still holds an inventory of over 3,000 unsold units.
Electrek’s Take
Despite offering record-low lease costs and backed financing to boost sales in the US, Tesla still possesses a larger inventory this quarter compared to the previous one, with only two weeks remaining in the current period.
As Tesla’s primary market in the US is its last stronghold where problems aren’t entirely catastrophic?
Gross sales in Canada have essentially come to a standstill. Nearly fully. Despite the introduction of the latest model, Mannequin Y, European sales have plummeted by around 40%.
In China, Tesla’s deliveries have declined by approximately 3,000 units compared to the first quarter, despite a significant boost in Model Y production, the introduction of all variants, and a 0% financing offer.
According to current estimates, Tesla is expected to deliver between 350,000 and 360,000 vehicles in Q2, diverging from the analyst consensus estimate of around 410,000 vehicles on Wall Street.
Despite a staggering 80,000-item drop compared to the same period last year, Tesla can’t blame Model Y production issues for this decline. Among the most striking developments in the automotive sector are surging electric vehicle (EV) gross sales worldwide.
While some Tesla shareholders may start to take notice of the issue at hand, it’s unlikely they’ll be prompted to take action anytime soon.
