Thursday, January 26, 2023
News Tesla Benefits from High Fuel Price, Could Post its Best Quarter Ever

Tesla Benefits from High Fuel Price, Could Post its Best Quarter Ever

Tesla is expected to post its best sales figures ever for the first quarter of the year.

  • The war in Ukraine has led to more expensive fuel around the world

  • More and more people are buying electric cars to avoid paying for fuel

  • Tesla is expected to have had its best quarter yet

Automakers are about to release their financial statements and sales figures for the first quarter of 2022 and Tesla is expected to post its best results ever, due in large part to the increasing fuel prices.

Since the war in Ukraine began, the price of oil products ahs skyrocketed, mainly since Russia is one of the leading oil producing countries. In order to sanction Russia’s actions, many countries, including the United States and Canada, have pledged to stop buying Russian oil, which has reduced the supply of available fuel.

This has negatively affected many people, but not EV automakers. Indeed, more and more consumers are turning towards electric vehicles on order to avoid paying more for fuel and this has benefitted Tesla.

The most successful electric vehicle company has been posting sales record quarter after quarter every year in spite of the multiple challenges which the automotive industry has faced over the last two years.

Tesla has been able to cope with the electronic chip and semi-conductor shortages brought on by the pandemic better than most other automakers and it has mostly avoided the shortages caused by the war in Ukraine. Now, the company is benefitting from these high fuel prices that are turning buyers away from their gasoline powered competition.

For the first three months of 2022, Tesla is expected to announce global sales figures reaching 309,158 vehicles, which is about 1,100 deliveries more than during the last quarter of 2021. This is in spite of a closure of the Shanghai Gigafactory due to rising Covid cases.

Even more impressive, this is only about 58,000 units less than it sold in an entire year back in 2019.

Trending Now

Most Popular Cars in Canada in 2022

The Ford F-Series pickup is tops among the most popular cars in Canada. The Toyota Corolla topples the Honda Civic and becomes the...

Alpina Announces 625 hp B5 GT

Alpina makes another extra-fast BMW 5 Series B5 GT most powerful Alpina ever "For over 50 years, Alpina has been a small antithesis to...

Acura 2023 Lineup: Models And Changes Overview

The Acura NSX halo supercar and ILX sedan are gone. Acura Integra makes a comeback, hot-rod Type S variant on the way. No...

Jaguar’s EV future will get detailed in 2023

Jaguar will become fully electric in the next few years. We will get more information on the brand's future in 2023. The first...

Porsche is still working on its three-motor Taycan

The current Porsche Taycan Turbo S delivers 750 hp and 774 ft-lb of torque. The super sedans from Tesla and Lucid are already...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.