Tesla cannot sell 20 million cars without new models
Elon Musk believes Tesla can hit 20m sales with just 10 models | Image: Getty Images
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4 mins read
22 March 2023
Tesla will fail to meet its target of delivering 20 million cars per year by 2030 unless it imminently introduces new models to bring more customers to the brand, a leading analytics firm has told Autocar.
During its 1 March Investor Day, labelled by some as disappointing for its lack of a new car reveal, CEO Elon Musk instead showcased new, highly efficient working processes that will drive down the cost of future vehicles and allow the US firm to grow its output.
But for the four-model car maker to go from 1.31m deliveries last year to almost 19 times that in only seven years, more than just new production processes are needed, according to the analyst arm of banking firm Bernstein.
Toyota, the world’s biggest car company, for example, last year sold just over 10m and it has a global reach stretching into nearly all markets, some of which it dominates entirely.
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