A new report suggests Tesla may not be the only company making a profit off the sale of used electric cars.
The Verge reported on Tuesday that Tesla has sold more than 2 million electric vehicles in 2017, and that it may be the sole beneficiary of the current market for used cars.
The report notes that Tesla sales in the US dropped to a record low of 7,500 vehicles in April, and it points to the low inventory as the cause of the drop.
According to the report, Tesla sold 1.2 million Model S cars in the first half of 2017, with sales of the Model X in the same period dropping to 1.1 million.
Tesla has already sold about 8 million Model Xs, and analysts are expecting the Model 3 to be the most popular electric car for 2017.
The Model 3 has been rumored to be Tesla’s most popular car yet, with the company hoping to sell between 10 million and 20 million cars in its first year of production.
“The Model 3 will be the second-most-popular vehicle in the United States in 2019,” Tesla Chief Executive Elon Musk said last year.
While sales of Model X and Model 3 have continued to plummet since their initial launch in 2020, Tesla has maintained that demand for its cars is still very high, despite a number of delays and cost overruns.
During its Q2 earnings call, Tesla CEO Elon Musk revealed that the company was planning to launch the Model 4 in 2018.
Musk also reiterated that Tesla would not be releasing a Model 3 or Model S until 2020, which will mean that the carmaker will be forced to sell a small number of its cars first.
As the company continues to struggle with production issues, Tesla may have to rethink its strategy of selling electric cars first, as other automakers are also moving towards a more mainstream approach to sales.
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