Source Source: Regtransfers – Private reg plates supplier UK
Tesla has come from nowhere over the last couple of decades to become one of the most talked about car brands on the planet. This could be down to a number of factors, from the fame and eccentricities of Elon Musk to the general trend towards a sustainable future and the move towards electric vehicles that many are naturally making in recent years and predicted into the future. One thing’s for sure, when you see a Tesla on the road or parked up, private number plate attached, you’re certainly talking about it with your peers. Tesla gets people talking and it will be interesting to see whether it continues its growth as it catches and overtakes certain legacy car brands in new car sales.
2023 sales figures so far
In the most recent set of results, Tesla published record quarterly vehicle deliveries, but this was within a framework of modest sales growth quarter-on-quarter. Tesla had introduced significant price cuts to maintain a strong growth level, but this did not seem to have the desired impact, despite the record-breaking results. 422,875 vehicles were delivered in the first quarter of 2023, 4% up from the previous quarter and 36% higher than the same period in 2022. Elon Musk had said at the start of the year that he expected 2 million vehicle deliveries for the whole of 2023, which would be a 52% increase on 2022.
The price cuts were implemented at the start of the year across the globe, reducing prices by as much as 20% in some cases. This was instituted after missing Wall Street delivery estimates last year, the competitive nature of the industry, and the bleak economic outlook for every country for several reasons. The main example of the price cuts can be seen in the Model Y costing $54,990 instead of the previous $65,990. Although there was a 6% bump in deliveries of the Model 3/Model Y vehicles in the first three months of 2023, the higher prices models X and S have seen a slump by as much as 38%, which is a worrying figure moving forward.
The global growth of Tesla
Tesla is known for its innovation in energy, software, electric vehicles and more. It has overcome a range of obstacles over the years, since it was founded in 2003. Elon Musk invested in Tesla Motors in 2004, and in 2008 the Tesla Roadster began production as an early example of electric vehicle, showing how they could be environmentally conscious but also cool, appealing to consumers on both practical and design lines. The Roadster was the first fully electric vehicle to travel over 200 miles on a single charge, and paved the way for future EVs, selling around 2,500 first-generation models. Since then, there has been the Tesla Model S and Model X, both successful enough that it led to the Model 3 sedan, which became a mass market electric vehicle that is still the most affordable Tesla on the market today. The Model Y was released to great fanfare in 2020, and there continues to look towards future electric vehicle models, as well as a 2nd generation Roadster. It is an exciting plan that we’re looking forward to witnessing over the coming years.
The most valuable automobiles brand
Tesla has jumped two places to overtake Mercedes-Benz and Toyota as the world’s most valuable automobiles brand after impressive 2022 sales figures. This will provide plenty of comfort for the head team at Tesla and investors, despite the modest improvement in sales that has been experienced in the first quarter of this year. The brand is now valued at $66.2 billion, an increase in value of 44% from the previous figures. It is the first time that an automobile brand has been at the top of this list without manufacturing internal combustion engines.
The rankings are delivered by Brand Finance, which puts 5,000 of the biggest brands through a rigorous testing process of over 100 reports. Tesla has rocketed in value to 5-times the amount before the pandemic and overtakes the previous leader Toyota (down 18% in brand value to $52.5 billion) and Mercedes-Benz (down 3% in brand value to $58.8 billion).
Sustainability perceptions
One of the biggest reasons Tesla has managed to become such a recognised name and big player in the automotive world is that it continues to score highly in terms of sustainability perception. Within the same reports and findings, Tesla scored a Sustainability Perception Score of 5.43 out of 10 and Value $17.8 billion. As a pioneer of electric vehicles and battery technology, Tesla is viewed by many as the leading light in terms of a major transition to a lower carbon economy. It is providing the framework and the actual vehicles and equipment that can help us make a wider shift to a more sustainable future, and this is a perception held by many consumers across the globe.
It is an interesting time for consumers in general. Tesla offers us hope of even having the option for a low-carbon alternative of electric vehicles and EV battery charging, but as the economy struggles and we all come to terms with the cost of living crisis, will the price point of Tesla models come down to a position where they are viable for enough people without it compromising the growth of the company over the coming years?
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