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Demand For Teslas Is So High, Q2 Inventory Is Already Sold Out

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Demand For Teslas Is So High, Q2 Inventory Is Already Sold Out

Tesla Inc (NASDAQ: TSLA) is no stranger to the high demand for its cars. The company regularly sells every car it produces as customers make custom online orders. One of Tesla's bottlenecks, as stated by CEO Elon Musk, is battery cell production. The company simply cannot make enough batteries for its vehicles.

According to Electrek, Tesla's demand is only growing. And, during the company's first-quarter earnings call, Musk confirmed it was strong.

Referencing sources familiar with the matter, Electrek wrote Tesla shared with its employees that production capacity for the second quarter is already sold out. This is before the quarter is even halfway through.

Interest is high for the refreshed Models S and X, which have yet to be delivered to any customers. A combination of battery safety testing and supply shortages has led to a delay in deliveries. Musk said he expected the S to start deliveries soon, with the Model X not going out in volume until the third quarter. 

Tesla is working to increase capacity. The company currently has two more vehicle factories under construction in Austin, Texas and Berlin, Germany. These facilities will produce Models Y and 3, with the Texas factory also producing the Cybertruck. Eventually, more vehicles may also be produced in these new locations. 

Click here to check out Benzinga’s EV Hub for the latest electric vehicle news.

(Photo courtesy of Tesla)

 

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