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Tesla Models Are Sold Out Until 2023 In US: Here's What May Hold Back Production

Stock Markets Mar 26, 2022 21:40
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Tesla Models Are Sold Out Until 2023 In US: Here's What May Hold Back Production
 
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Despite recent price increases in Tesla Inc (NASDAQ: TSLA) vehicles, demand for them seem to be increasing at a faster rate.

Even so, many Tesla models in the U.S. are now sold out until 2023. Delivery estimates for the Model Y version are now pushed out to a timeframe between January 2023 and April 2023.

Similarly, Model S is now estimated to deliver between November 2022 and January 2023. Model X is expected to be delivered to customers sometime between April and July of 2023.

In its Q4 result, the company said that increasing production substantially was a priority in 2022.

Also Read: Ads Or R&D: How Does Tesla Compare To The Auto Giants?

The company now has plans to maximize output at existing factories in California and Shanghai and by also bringing online entirely new factories in Austin, Texas and Berlin.

However, last week, Tesla CEO Elon Musk said that he sees challenges with battery production next year that can hold back plans to scale up electric vehicle production over the next two to three years.

He also said that Tesla is being held back by numerous challenges and is facing a “high class” problem of orders outpacing production.

Musk added that in the coming two to three years, the concerns would be the number of gigawatt-hours of battery produced, the supply chain, and the rate at which battery materials are being mined and refined.

Tesla’s recently launched Giga Shanghai plant is expected to ramp up production and sell an estimated 1.5 million this year and help it establish a stronger foothold in Europe.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Tesla Models Are Sold Out Until 2023 In US: Here's What May Hold Back Production
 

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