The backlog of Tesla's order has reached a new low, and the way to break through may be reducing the price.
CTOnews.com July 18 news, according to Tesla car statistics and forecasting expert Troy Teslike data, Tesla global electric vehicle order backlog fell again in June, reaching the lowest level ever.
As of June 30, 2023, Tesla's global order backlog stood at approximately 49,000 vehicles, down about 10,000 vehicles (or 17%) from two weeks ago. That's significantly lower than at the end of May, let alone about 400,000 a year ago. That means Tesla can fill those orders in 17 days at its current production capacity, compared to 18 days two weeks ago.
The drop in order backlog suggests Tesla is producing faster than customers are ordering. In theory, if this continues to happen, manufacturers must slow down production or increase the attractiveness of their products in order to increase sales.
In the past, Tesla often raised prices (or suspended orders for certain versions of the car) when the backlog was high, and lowered prices when the backlog was low (such as January and April). Tesla is expected to take new steps--a price cut in July (or August), or the company may wait until its second-quarter earnings report (July 19).
By market, the balance between Tesla supply and demand remains "red"(too few orders) in major markets (the United States, Europe and China). In the US market in particular, the estimated order backlog fell from more than 18,000 vehicles to more than 7,000 vehicles in about two weeks, equivalent to 11 days of supply (a reduction of five days). Conditions in Europe and China have been relatively stable-even slightly improving.
Here's how the backlog (and days of supply) changed in each market over a roughly two-week period:
USA: 7,382 vehicles (11 days)-5 days less
Canada: 923 vehicles (16 days)-5 days less
Europe: 15,617 vehicles (22 days)-an increase of 2 days
China: 14,730 vehicles (16 days)-an increase of 1 day
Others: 10,525 vehicles (40 days)-4 days less
Total: 49,177 vehicles (17 days)-1 day less
