Tesla
PESTEL Analysis: Social
Tesla’s move towards low-carbon lifestyles and renewable energy has opened an immense opportunity for its sustainability in the future. With its electric cars and different Tesla Models, the company provides a market for consumers who wish to embrace green energy and reduce on fossil fuel consumption. With an increase in global warming and its adverse effects, ore people are now focusing on products that are safe and sustainable for the environment. This is indeed a great opportunity for the company with an increasing demand for sustainable products across the globe. The influence that such social factors have on consumer perception is indeed a great opportunity for Tesla in increasing its market share and profits over time.
In addition, Tesla’s recent move to give its entire patent portfolio is an opportunity for the company to have other manufacturers produce similar and even better products (The Guardian, 2014). This is also a chance to ensure that more people embrace electric cars. Customers who have a high level of brand loyalty to products from different manufacturers such as Toyota will now have a chance to buy products of their choice. Moreover, Tesla’s move opens up a chance to partner with other manufacturers and share costs of setting up charging points. This, will in turn increase the number of new customers seeking to use vehicles using sustainable fuels. Tesla will benefit from increased customers and profits.
The UK recorded quadrupled sales of electric vehicles between 2013 and 2014 with 3,300 and 15,500 cars respectively (Business Green, 2014). An increase in production and more stations will work well for Tesla and other companies that may seek to venture into this market.
Tesla should now focus on establishing its brand in China, Japan, and the UK as its expands its operations.
References
Business Green. (2014). Electric Car Sales Quadruple During 2014. [Online] Available from: http://www.businessgreen.com/bg/analysis/2389124/electric-‐‑ car-‐‑sales-‐‑quadruple-‐‑during-‐‑2014 [Accessed 1st November 2017]
The Guardian. (2014). Tesla hands over the keys to its electric car technology.
