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Tesla's California registrations down second quarter in a row, dealer data shows
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Tesla's California registrations down second quarter in a row, dealer data shows
Apr 29, 2024 12:11 PM

April 29 (Reuters) - Registrations of Tesla

vehicles in California fell about 8% in the first quarter of

2024 for the second consecutive three-month period, according to

data from the California New Car Dealers Association.

The data showed about 50,000 new Tesla vehicles were

registered in the state, one of the most important markets for

the Elon Musk-led EV maker, in the quarter ended March 31.

Globally, Tesla's quarterly deliveries fell for the first

time in nearly four years as price cuts and incentives proved

insufficient in drumming up demand.

Still, the company's Model Y crossover was the best selling

new vehicle in California, the report said. It added that the

Model 3 compact sedan and Model X premium SUV were among the top

three best-selling battery electric and plug-in hybrid vehicles.

The overall market share for battery EVs in the state also

fell, to 20.9% from 21.2%, as consumers gravitate to less

expensive and longer-range gasoline-hybrid electric vehicles.

Tesla bucked the market, which rose 3% as rivals like

Mercedes, BMW, Audi and Rivian

recorded sharp upticks in EV sales during the period.

Tesla's share of the battery electric market in California

fell to 55.4% from 61.8% a year earlier, losing ground to the

German luxury carmaker trio, Rivian and Hyundai,

among others.

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