In Q1 2023, Tesla, the electric vehicle manufacturer headed by Elon Musk, experienced a 24% decrease in operating income, resulting in a total of $2.7 billion. This decline in profitability is due to the ongoing reduction of prices for the company's vehicle lineup, causing Tesla's shares to fall by 10% during trading on Thursday.
While this financial performance may indicate that the American market is becoming saturated, it is not necessarily a signal that Tesla cannot fulfill Elon Musk's ambitious goals. However, it may be in the company's best interest to expand its reach into the Indian market.
It is known that Elon Musk laid out certain conditions to the Indian government in order to establish his business in India. Fortunately, the government did not give in to any special requests or concessions and treated him like any other foreign entrepreneur. As a result, Musk did not pursue expansion into India until now.
However, for Musk to achieve his goals, it is necessary to bring Tesla to India to survive. The power of wealthy Indian population shouldn't be underestimated. They would show a frenzied interest in booking Tesla cars, with the supposition that at least a million cars would be booked throughout India within a few months.
Elon Musk must come to understand the reality that no American product-selling company can achieve international growth without considering Indians as their consumers. It is worth noting that India is currently the most populous country in the world.
More delay by Elon Musk to enter India, the greater his regret will be later.
