Recently, when people think of Tesla, they talk about the Cybertruck and its well-publicized flaws. However, the accumulation of unsold vehicles in Tesla’s massive parking lots in Austin, Texas, suggests that the company is facing a bigger problem. Satellite images have revealed that Tesla’s inventory is rapidly increasing, with thousands of unsold Teslas. So, what caused this accumulation of vehicles?
Satellite images reveal thousands of unsold Teslas
Tesla has been experiencing difficulties in sales recently. In the first quarter of 2024, the company produced more than 47,000 vehicles but failed to sell them. Tesla deliveries fell by 8.5% compared to the previous year, marking the first low sales rate since 2020 when production was halted due to the COVID-19 pandemic. Sherwood News used satellite images to compare the unsold Tesla stock between October 2023 and March 2024. The images show much fuller parking lots in March compared to October.
Satellite images provided by SkyFi clearly show where these unsold Tesla vehicles are going: nowhere. These cars are being kept in parking lots. SkyFi’s satellite images from May 2024 show dozens of unsold Teslas waiting in these lots.
This week, Tesla shareholders will vote on Elon Musk’s nearly $50 billion compensation package at the company’s annual shareholder meeting. In February, a judge in Delaware invalidated this compensation package due to Musk’s extensive ties with the board members who approved his pay deal. Shareholders will also vote on moving Tesla out of Delaware.
Elon Musk tweeted over the weekend that if one of his other companies goes public, long-term Tesla shareholders will be given priority. This indicates that Musk needs the support of Tesla shareholders more than ever.
What do you think about these vehicles? Do you think Tesla can’t compete with China? Share your thoughts in the comments section below.
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