In the past year or so, electric car manufacturer Tesla Inc (NASDAQ: TSLA) has seen its stock perform quite impressively and on Friday, the company received another significant boost.
Although Tesla has made inroads into many markets over the past few years, Japan had remained a hard nut to crack for the American company. However, it seems that things have changed considerably this year. On Friday, in a report from Teslarati, it was revealed that the company’s sales in Japan for March 2021 soared by as cosmic as 1300% year on year.
In March 2021, Tesla managed to sell as many as 588 vehicles in Japan and that was a significant rise from the meager 44 units that it had sold in 2020. The most important factor behind this surge was the company’s Gigafactory Shanghai. The factory primarily produces vehicles for the massive Chinese market but some of the vehicles are also exported to other markets including Japan. It might be time for investors to add the stock to their watch lists.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.