Demand for the 3 and Y models rose 6 percent in this quarter, while orders for the more expensive X and S models fell 38 percent. Tesla produced 440,808 vehicles thanks to increased production in Texas, Germany and especially China, where pandemic-related restrictions have eased. The 20 percent global price cut is in response to analysts' unmet expectations for 2021 and has sparked a price war in China between Tesla and rival electric vehicle makers BYD and Xpeng.
Introducing its own beer brand
Tesla has released a limited-edition beer called GigaBier, which it offers on its official website for €89. The package contains three 330ml bottles in a shape inspired by Tesla's Cybertruck model. Interestingly, the beer is brewed in Berlin, has Pilsner roots, contains an exclusive variety of cyber hops and a special flavour. Elon Musk wanted to promote the new plant in Germany in this way and is talking about the possibility of producing the beer there. The beer thus joins his bizarre products, which have included The Boring Company flamethrower, Tesla tequila and Burnt Hair perfume. As was the case with the aforementioned fads, the beer sells online for several times the price, and the unusual design has made the bottle a valuable collector's item.
Shares are doing well
Looking at the five-year performance of Tesla shares, we can see that they are in the green. The company's value is up 68 percent this year, but still remains more than 50 percent below its record price set in November 2021. During Monday's trading day, it was trading at around $207 per share.*
Chart: Tesla's shares movement over the past five years (Source: Google)
Great prospects
In recent months, we have seen exceptional expansion in the field of electric vehicles, for example in the planning of building new production plants and measures that will ensure a greener future for the environment. Musk plans to visit Premier Li Qiang this month and help consolidate the brand's position in China, as it is Tesla's second-largest market. Moreover, the Shanghai plant is the company's largest production centre. The company's marketing approach and its prominent place among technology companies makes it an undoubtedly interesting stock that can be a nice addition to any investment portfolio. [1]
Olívia Lacenová, analyst of Wonderinterest Trading Ltd.
* Past performance is no guarantee of future results.
[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or on the current economic environment, which may change. Such statements are not guarantees of future performance. They involve risks and other uncertainties that are difficult to predict. Results may differ materially from those expressed or implied by any forward-looking statements.
