Demand for Tesla vehicles remained strong during pandemic, Musk says

Demand for Tesla vehicles remained strong during pandemic, Musk says

by Jyoti
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Tesla Inc Chief Executive Elon Musk stated in a podcast launched on Friday that demand for the corporate’s electrical autos remained robust all through the coronavirus pandemic, with customers preferring to buy on-line.

Musk, speaking to Automotive News’ Daily Drive podcast, stated having a conventional supplier community – one thing he thought of prior to now – seems more and more pointless.

“We saw strong orders through the whole pandemic, we still had a good order volume,” Musk stated. “I guess people are less inclined to want to go to a dealership, do the test drive and hang out in the lobby and that kind of thing.”

Asked a couple of 2020 meteoric inventory rally that has pushed Tesla shares up greater than 240% from the beginning of the 12 months and made the corporate the world’s most highly-valued carmaker, Musk stated the market would finally type itself out. He added that so long as Tesla made nice automobiles, buyers could be comfortable.

In a May 1 tweet, Musk stated Tesla’s share value was “too high,” at a time when shares the place buying and selling at round $700 – roughly half of the place they’re now. Shares on Friday had been down 2.2% at $1,454.

In the podcast interview, Musk additionally praised the Chinese work ethic and criticized U.S. attitudes.

“China rocks in my opinion,” Musk stated. “There are a lot of smart, hard-working people and … they’re not entitled, they’re not complacent, whereas I see in the United States increasingly much more complacency and entitlement.”

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Tesla has constructed a manufacturing facility in Shanghai and seen a pointy enhance in Chinese demand for its Model three sedans. The firm just lately has additionally launched a hiring spree in Shanghai because it ramps up manufacturing and prepares to fabricate its new Model Y sport utility automobile on the plant.

Disclaimer: This put up has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor


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