Tesla, Inc. (TSLA) stock has not risen significantly over the past month despite the company said on April 2 that it delivered 184,800 vehicles in the first quarter, beating the 168,000 number which analysts expected. Perhaps it still lacks some catalysts, but there is one here today.
Japan is one of the markets where Tesla is difficult to advance its business, Tesla only selling 44 cars in March 2020 in this country, but an article from Teslarati told us that the things are starting to change. The article pointed out that Tesla is starting to get some serious momentum in Japan, it sold 588 cars in March 2021 in Japan, an increase of 1,300% year-over-year, this made Tesla one of Japan’s most popular foreign brands, just behind Fiat (739 cars) and Land Rover (689 cars).
These vehicles were imported from Gigafactory Shanghai, China, and the price of the Model 3 decreased significantly in March due to the reduced manufacturing and transportation costs of the vehicle. So as to promote its sales growth. At the same time, Japan’s subsidies for electric cars have also seen an increase, this made all-electric vehicles like the Model 3 more attractive to car buyers.
Anyway, this is a good news for Tesla's stock, but it remains to be seen if the news can push TSLA stock up further before the company reports its first quarter 2021 financial results on April 26.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.