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Tesla Records 85% Surge In California Registrations With Model Y Driving Growth

Benzinga2021-07-16

Tesla Inc TSLA 0.43% electric vehicle registrations soared 85% to 23,556 vehicles in the second quarter in the home state California, compared with a year ago,accordingto research firm Cross-Sell, Reuters reported Thursday.

What Happened:Cross-Sell said the electric vehicle maker registered a total of 46,926 vehicles among 23 states where it collected data. More than half of these registrations were for Model Y.

Model Y registrations in California alone jumped more than sevenfold to 13,581 vehicles, representing more than half of the total registrations, as per the firm, noted Reuters.

Tesla’s Model Y was its best-selling electric vehicle in the U.S., followed by the Model 3.

Model 3, the entry-level mid-size sedan, used to be the Palo Alto-based company’s best-selling electric vehicle in 2020 but sales in the U.S. market declined by more than 50% year-over-year in the first quarter of 2021.

Why It Matters: In the first quarter, Tesla’s share of the U.S. EV market slipped as the overall market grew, contributing 71% of total EV sales, down from 83% share a year ago.

U.S. customers have also been complaining about price hikes for the Model 3 and Model Y vehicles despite Tesla removing features such as the lumbar support on the passenger seat of the Model Y. CEO Elon Musk a month ago blamed industry-widesupply chain issuesand semiconductor shortages for those price hikes.

The chip shortages have led to extended delivery lead times stretching up to six months in some cases. As per Loup Ventures, for Tesla’s Model 3 and Model Y — the delivery time is between two to three months.

Price Action: Tesla shares closed 0.43% lower at $650.60 on Thursday.

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评论40

  • SebbyBoy
    ·2021-07-19
    Let’s see what happens tonight opening…
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  • belbel
    ·2021-07-17
    [开心] 
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  • TK360
    ·2021-07-17
    Nice 
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  • LHui
    ·2021-07-16
    Still it is insufficient to justify its current valuation.  
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  • Vyy
    ·2021-07-16
    800!
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  • Silverlitz
    ·2021-07-16
    💃🏻
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  • BoonHuat
    ·2021-07-16
    Good! 👏
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  • terry321
    ·2021-07-16
    Ready to fly?
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    收起
    • BinLong
      🚘🚀🌕
      2021-07-16
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  • JarenSin
    ·2021-07-16
    Tonight will be a good night!
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  • ChallengerDT
    ·2021-07-16
    buy more Tesla!! 
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  • Traditional
    ·2021-07-16
    Good news
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    收起
    • me168
      [哇塞]
      2021-07-18
      回复
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    • me168
      [哇塞]
      2021-07-18
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    • sasa11
      huat
      2021-07-16
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  • alvernsim
    ·2021-07-16
    Like comment pls!
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    • ZEROHERO
      Done
      2021-07-16
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  • CIG
    ·2021-07-16
    守得云开见月明
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    • CIG
      守得云开见月明
      2021-07-16
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  • WX86
    ·2021-07-16
    Great news! Means stock down again??
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    • Vincewjs
      i would think so
      2021-07-16
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  • Chinleong
    ·2021-07-16
    The demand for electric cars is on the rise
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  • Satya
    ·2021-07-16
    Tesla sure 760$ by next week. 
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    • ZEROHERO
      I swear the world better prepare. For when I'm a billionaire Oh oooh oh oooh for when I'm a billionaire 🤑
      2021-07-16
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    • spj
      am praying stock should not go down 590.
      2021-07-16
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  • Putu
    ·2021-07-16
    Good 👍 
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  • koolgal
    ·2021-07-16
    Big Cheers for Tesla fans!   Powering up for greater success! 
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  • PalantirMood
    ·2021-07-16
    more to come!
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    收起
    • TeddyBeh
      Go go go
      2021-07-16
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  • TLC88
    ·2021-07-16
    🚀🚀🚀🚀
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    收起
    • TLC88
      ⬆️🆙🔝
      2021-07-16
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