Tesla Motors is notoriously cagy about its sales numbers, although the business and CEO Elon Musk are often satisfied to hype up demand and wait times. That’s why a Merrill Lynch researcher’s letter to investors, estimating that Tesla could be sitting on a backlog of 3000 unsold cars, comes as such a surprise to folks who’ve been hearing nothing but very good news from Musk and his car firm. Is there difficulty in electric-automobile paradise?It’s challenging to locate a rock-tough reality among all this speculation. As initially reported at the Day-to-day Kanban, Merrill Lynch investigation analyst John Lovallo dug via Tesla’s completed-goods inventory, concluding that the company’s numbers at the end of Q3 didn’t jibe with Tesla’s assertion that it “sold every car” in that quarter. Lovallo bolsters his own investigation with speculation based on the electric carmaker’s actions, like the appealing new lease gives, a 3-month “happiness assure,” and the narrowing of the Model S lineup to 2 models and 6 colors, down from 3 models and 8 paint options. Coupled with but an additional delay in the rollout of Tesla’s Model X SUV and rumors of elevated Tesla sticker costs in Europe, the outlook isn’t all rosy for Musk’s auto business.
All of this, Lovallo concludes, indicates that demand for new Teslas is down, not up, and he guesses that the business could have “approximately 3000 cars stocked in inventory or in transit.” For a organization that reports 7785 automobiles sold in Q3 of 2014, that’s a massive backlog.
Of course, it’s practically not possible to verify Lovallo’s claims: Tesla does not report regional sales numbers in its quarterly monetary statements the way that nearly each and every other automobile manufacturer does, and even though the Every day Kanban seems to have read Lovallo’s report firsthand, the document itself is obtainable only to Merrill Lynch investors. We’re left taking both the skeptical analyst’s educated guesses and the optimistic billionaire’s sunny assertions at face value.
Launching a brand-new automobile company is not effortless, particularly one that strives to be different from market norms in quite a lot each way feasible. But in between speculation of sagging sales demand, statewide sales bans bought by old-globe dealership cartels, and continual delays to the Model X’s launch date, maybe items are not going so smoothly for Musk and company.
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Investment Analyst Estimates Tesla Could Have a Backlog of 3000 Vehicles
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