Tesla Spain delivered 1470 cars 2021 28 perecent less 2019 as the Spanish subsidiary of Tesla Motors suffered a significant fall in 2020 in both its delivery of vehicles and its turnover compared to 2019, the year before the COVID-19 pandemic.
The number of vehicles delivered last year fell to 1,469, which meant a decrease of 28.2%, while its turnover was also affected, falling from 119 million euros in 2019 to 86 million euros in 2020, that is, 27.7% less.
"We are focusing on reducing manufacturing costs while we continue to increase its production rate," says the company, which points to the coronavirus as a cause and also recalls that 2019 was the year of the launch of the Tesla Model 3, an electric vehicle designed to gain followers in the domestic market and that absorbs most of the turnover.
In addition, sales of the S and Suv X models fell, which influenced those lower revenue figures, affected by the coronavirus, according to the company's annual accounts deposited in the Commercial Registry and collected by the Country.
"This decline is mainly related to the fall in sales due to the coronavirus, but also due to the fact that the government incentives ended," says Tesla, which carried out an ERTE to 74 employees during the second quarter of last year.
Faced with these numbers, Tesla went from a negative working fund in 2019 to earn almost one million euros in Spain in 2020, with short-term debts that "will not be due as long as the company does not have enough liquidity to face its repayment," he clarifies.
Tesla Spain delivered 1470 cars 2021 28 perecent less 2019
The COVID-19 pandemic affected Tesla internationally, which made wage cuts to reduce costs, and came when the company was increasing production of its Model Y SUV, accelerating assembly at its new plant in Shanghai (China) and advancing plans to build a new factory in Germany, reports Europa Press.
Last year was the first profitable in Tesla's history, although its results were below expectations.
Tesla Spain delivered 1470 cars 2021 28 perecent less 2019
In contrast, this second quarter of 2021 has been the most profitable to date for the company, which has exceeded for the first time $ 1 billion in net profit, doubled revenues and set a new record in vehicle production and delivery, despite facing difficulties such as shortage of microchips and other supply chain problems.
These have caused it to move the production of the Tesla Semi, its electric truck, to 2022, to focus on the branching of production in the next factories in Berlin (Germany) and Austin (USA). The company has said it expects to start production at both plants in 2021.
# Tesla Spain delivered 1470 cars 2021 28 perecent less 2019 #
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Inditex addresses the biggest corporate thinning in its history: the textile giant eliminates 27 subsidiaries, 4 of them in Spain
The giant Inditex continues to move: the Galician company eliminated during the last financial year a total of 27 subsidiary companies, reaching a total of 350 companies, in what is the largest cut in its entire business history.
According to the annual report of the group and includes Five Days, as of January 31, 2021, the group was made up of 350 companies, spread over 54 different countries. These include all companies in which the group has at least a 51% stake, and not joint control companies such as Tempe, the footwear manufacturer, of which no more than 50%.
Of these, a total of 262 were sold to the public, 75% of the total. Over the past year, sales-focused sales dropped by 21 units. Another 17 subsidiaries were logistics, now 2 less, and another 14 were real estate, one less. It also had 11 holding companies and 10 were factories. These have not been reduced.
"With the extinction of these companies, Inditex ended 2020 with the smallest corporate structure since 2013. It is also the first time, at least with the information consulted since 1998, that the company chains 2 consecutive years reducing its business perimeter", points out the newspaper. In 2019 it eliminated a subsidiary of the same, the big cut was undertaken during the last year.
From Inditex it is recognized that the contraction undertaken responds to “a simplification of companies” with which it aims to achieve “greater corporate agility”. They also clarify that this "does not affect anything to commercial operations"”
Proof of this slimming is seen on the Croatian market. There, the group has abolished the subsidiaries Oysho, Massimo Dutti, Pull & Bear, Bershka, Stradivarius and Zara Home, with which it managed the operations of the stores of each chain located in that territory. From now on it operates there with only one company, ITX Croatia (formerly Zara Croatia) that integrates the entire business in the country.
This "simplification" can be seen in the elimination of subsidiaries in markets such as Croatia. There it has abolished the subsidiaries Oysho, Massimo Dutti, Pull & Bear, Bershka, Stradivarius and Zara Home, with which it managed the operation of the stores of each chain located in that territory. From now on, it operates there with only one company: ITX Croatia (formerly with Zara Croatia) that integrates the entire business in the country.
The same is true in countries such as Bosnia, Japan or Denmark, where the business of the different brands has been integrated under a single company.
In others, such as Macau, the elimination of subsidiaries coincides with the closure of all physical stores in that territory, in this case the Pull & Bear, Stradivarius and Bershka chains. In that area, Inditex already only sells with these brands through the internet, eliminating the companies that managed the physical stores.
However, the company explains that this reduction in terms of companies is not related to the optimization process in its commercial network. In the results of the first fiscal quarter of 2020-from February 2020 to January 31, 2021-the group put in place a plan to absorb 1,200 establishments. The operation is nearing completion. As of April 30, Inditex operated 6,758 stores, which means 654
The number of companies that make up the Inditex group and that are located in Spain was reduced from 59 to 55 to 31 January of this year. Of course, it should be explained that last April the company Inditex Renovables SL registered in the Commercial Register, with which it will manage its energy self-consumption projects.
Among those affected by these movements is Fibracolor, which for years managed the activity of the factory located in Tordera (Barcelona) until its closure in 2008. Also left out are Tordera Logística, which ceased its activity in 2016; and Uterqüe Logística, which also did not register any activity in recent years.
The fourth Spanish subsidiary extinguished was Invercarpro real estate, integrated in the group since 1992 and whose balance sheet was practically empty at the end of the 2019 financial year.
Despite the above, the domestic market is still the country where it has a greater number of subsidiaries, followed by China, where at the end of the 2020 financial year it had 36, three less. The third country where Inditex has more companies is the Netherlands, with 18, one less than in 2019. Of these, 5 are holding companies and 4 are financial companies.