Tesla Inc. is reportedly struggling with excess inventory, having accumulated unsold vehicles that have overflowed into locations like malls and parking lots. A Michigan judge has ordered the removal of such vehicles from a shopping center because it violated city codes. This raises concerns over significant unsold stock, possibly numbering in the thousands. Tesla's sales have reportedly dropped, with a considerable decline observed in some European markets and an estimated decline of 8.6% in U.S. deliveries during the first quarter compared to last year. The situation highlights challenges the company faces amid changing sales dynamics.
"On June 4, 47th District Court Judge Marla Parker ordered that the owner of Hunter's Square shopping mall in Farmington Hills had to remove the vehicles by June 25 because keeping them there was in violation of city code."
"Earlier reports suggested that Tesla has as many as 10,000 Cybertrucks parked around the country. The value of those has been put at $800 million..."
"Tesla does not report U.S. vehicle sales. Many European nations do via registration data. Based on the European numbers, in some countries, its sales dropped over 30% in April compared to the same month last year."
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