Tesla is an American automotive and Energy Company based in Palo Alto, California.
The company specializes in electric car manufacturing and, through its SolarCity subsidiary, solar panel manufacturing.
As of 2019, Tesla sells Model S, Model X, and Model 3 cars.
Tesla was founded in July 2003, by Elon Musk and engineers Martin Eberhard and Marc Tarpenning, under the name of Tesla Motors.
Musk was responsible for 98% of the initial funding and served as Chairman of the Board.
Tesla is the latest edition of the car manufacturing company compared to the other brands that have been in the market for some time.
The Model 3 has a similar base price point to the most EVs but it has much lower cost of ownership, much better tech (infotainment tech and autonomous driving tech), record-breaking safety scores, and unmatched performance.
There’s not a solid reason to buy another car in this class.
Aside from some buyers not liking the design of the Model 3 for some reason and choosing a competing car, I presume that sales of other models in this price range are simply due to inertia — societal inertia, marketing inertia, and internal illogical inertia.
Actually, even a distaste for the design may simply be due to psychological inertia.
The model 3 still leads as their best product on the market which has helped them outshine the usual big brands.
Tesla appears to have hit a major milestone that could signal the electric-car company is about to punch the accelerator.
The Silicon Valley upstart outsold long-established German luxury automaker Mercedes-Benz during the July-September period in the U.S 2019 Jean Baptiste Su, principal analyst with Atherton Research, says in a report in Forbes.
And the company could soon outsell another venerable car maker, he says.
Tesla would not confirm Atherton Research’s sales estimates.
“When they were just producing the model S and X, they were a niche automaker that didn’t strike fear into the hearts of automakers,” said Jeremy Acevedo, but with the current figures, Tesla seems to be outshining the German producers with their latest models.
The Model S and X vehicles, which can cost more than $100,000, have been status symbols.
But the Model 3, which typically runs about $55,000 out the door, has put Tesla on the radar of average car buyers.
Since the Tesla Model 3 began initial deliveries in Summer 2017, figures show that the United States’ ten most popular petrol-powered luxury sedans have seen a decline in popularity.
All ten of the sedans have experienced a drop in sales when comparing numbers from 2017 and 2019.
The sales figures for the Model 3 have shown a striking increase over the past two years since its release.
But a report from wheelsjoint.com shows other automakers haven’t had the success Tesla has experienced.
Tesla had hinted it was gaining on the competition when it came to sales.
The automaker said its Model 3 outsold all other mid-sized premium sedans combined (Mercedes-Benz, BMW, Audi, Jaguar, and Lexus) in July in the U.S., capturing 52 percent of the segment overall.
“We think they have the best product in the market for all-electric vehicles. It’s not even close,” said CFRA Research analyst Garrett Nelson.
“But a lot of competitors are catching up rapidly, so we expect them to face a lot more competition over the next couple of years.”
The Tesla maintenance cost is very low compared to the Audio, BMW and Mercedes Benz.
It has a way cheaper payment plan than the other brands of its category of luxury cars.
The maintenance cost ranges between $(0-1,500) for the other brands it goes from (500-2,500)$.
If you look at the figures they hitting high at a very fast rate.
Production output: 367,500 vehicles (2019)
Products: Electric vehicles; Tesla Energy
Total assets: US$29.74 billion (2018)
Total equity: US$4.92 billion (2018)
It remains to be seen if it will also hit the African market and whether car lovers will run for it, considering the roads and the terrain of the African landscape, otherwise it would be a better and cheaper option compared to Mercedes Benz and BMW.