Tesla’s used car sales register strong growth

Electric car maker Tesla Motors is enjoying a rapid expansion in its used car business, prompting analysts to predict that the company is on the track to triple its used inventory sales.

As of the second quarter this year, Tesla has its “finished goods” inventory worth $1,470,359,000. While the company does not offer breakdown of figures for this segment, but the automobile major confirmed that this section includes cars in transit, new cars available for immediate sale at retail and service centers, and pre-owned Tesla cars.

So far this year, the e-car giant enjoyed a revenue increase of $154.1 million in used car sales.

In its Q2 filing, Tesla stated, “In future periods, we do not anticipate meaningful revenue from sales of powertrain or other vehicle systems and components to third parties. However, we anticipate that revenue from sales of pre-owned vehicles will continue to increase.”

Last year, Tesla saw an increase of $117.4 million in its used inventory sales. At the pace sales of the used cars are going at currently, Tesla is on the track to triple used inventory sales.

Tesla’s ongoing foray into in the field of used car sales is a clear sign that the e-car maker is looking to utilize this part of the business to boost its bottom line and bring more car owners into the world of e-cars.