Tesla SWOT Analysis Essay
SWOT analysis are considered to be critically essential for the success of an company. As per previous discussion on the company’s external and internal situation analysis the SWOT analysis is explained below:
Tesla SWOT Analysis
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Write My Essay For MeStrengths:
Over the period of time, Tesla has managed to maintain its reputation in terms of quality products and innovation in the electric engineering and battery department.
Tesla SWOT Analysis
Tesla is always recognized for its non-compromise on the quality or efficiency of its products and Tesla has revolutionized the vehicle engineering industry making it a luxury brand.
Furthermore, the company is using state of the art technologies in its cars manufacturing. Tesla has invested a lot in modernizing the technology used in its cars and other products and also offers its services to other automakers to become more environment friendly and eventually reduce the burden on natural resources (Binkiewicz, Chen, & Czubakowski, 2008, De Pin, 2015).
Tesla SWOT Analysis
Weaknesses
A major weakness of Tesla’s marketing strategy is that it does not have retailers or distributors oversees in potential markets such as China and other countries where there is demand of luxury cars. Tesla’s only source of revenue generation is from U.S. markets as compared to other market places. This factor needs to be involved in Tesla’s strategy to expand its networks oversees and international markets to boost its sales and revenue generation.
Tesla SWOT Analysis
Opportunities
The potential and demand for electric vehicles is rapidly increasing in the Asian countries such as China, Korea, Japan, India etc. making them the largest hub of environment friendly cars. The countries changing governmental policies for sustainable development and promoting Eco friendliness in the region, they are welcoming more electric vehicles in the country. The Asian market makes up to the largest market of electric vehicles in the region ahead of United States. These countries are also home to world’s largest auto markets which signify their potential for electric vehicles and for Tesla to consider it as a beneficial point to increase its sales where the demand is high.
Tesla SWOT Analysis
Threats
Due to increased environmental awareness and utilizing alternative sources of energy, automobile companies are keener towards making hybrid and electric cars to promote sustainability in the industry. Big names such as Volvo cars, Volkswagen, Porsche etc. are increasingly making efforts to go hybrid or electrify their cars in the coming decade or even a lesser time period which is a serious threat to already existing Tesla, to prevent major consequences Tesla should strengthen its market place in national and international market to avoid loss in the future (Shirouzu, Kubota, & Lienert, 2013).
Tesla SWOT Analysis
SWOT Table:
| Strengths: | · Eco- friendly · Luxury · First mover · Best battery · Best R&D · Driving technology researches are conducted within the company · Top quality design · Professional CEO with a good repute · Corporate sections willingness to try new innovations · Stock prices favorable for investors · Equal attention given on both design, aesthetics and performance of the car |
| Weaknesses | · Less publicity · Less established · Possible competitors · Limited market presence · Busy CEO schedule · High rates/ Expensive · Lack of profit and variety · Limited charging less mileage |
| Opportunities: | · Battery technology · More buyers due to global awareness · Environmental awareness favors Tesla · EVs will be more competitive in future · Other companies purchase technology from Tesla · Economy rebound causing more luxury buying · Strict on environmental monitoring · Potential in Asian markets · Collaborate with other industries for distribution and sales symbiosis · Stock prices to be considered rising in future · Rising fuel and oil prices favorable to the industry |
| Threats: | · Low gas prices not favorable for more sell outs · Expensive cars · New technology · Other companies selling electric cars · Small market of Electric vehicles |
Tesla SWOT Analysis Essay
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