Lately, when Tesla is mentioned, everyone talks about Cybertruck and its flaws that are on the agenda. However, Tesla’s unsold vehicles piling up in huge parking lots in Austin, Texas, show that the company is facing a bigger problem. Satellite images revealed that Tesla’s stocks were increasing rapidly and there were thousands of unsold Teslas. So what happened to accumulate so many vehicles?
Satellite images reveal thousands of unsold Teslas
Tesla sales have been struggling lately. The company will start in the first quarter of 2024. More than 47 thousand vehicles produced, but failed to sell these vehicles. Tesla deliveries compared to last year fell 8.5 percent. This was the company’s first low sales rate since 2020. That year, production was halted due to the COVID-19 pandemic. Using satellite imagery, Sherwood News compared unsold Tesla stock from October 2023 to March 2024. Images show much fuller car parks in March than in October.
Satellite images provided by SkyFi clearly showed where these unsold Tesla vehicles were going: Nowhere. These vehicles are kept in parking lots. SkyFi’s satellite images show there are dozens of unsold Teslas here as of May 2024.
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This week, Tesla shareholders will vote on Elon Musk’s almost $50 billion pay package at the company’s annual shareholder meeting. In February, a judge in Delaware threw out that pay package because of Musk’s extensive ties to the board members who approved the pay deal. Shareholders also want Tesla to move out of Delaware to be moved They will also vote.
Elon Musk tweeted over the weekend that he would prioritize long-term Tesla shareholders if one of his other companies goes public. This is an indication that Musk needs the support of Tesla shareholders more than ever.
So what do you think about these vehicles? Do you think Tesla will not be able to compete with China? You can write your opinions in the comments section below.