Tesla second-quarter registrations increase by 85% in California: Study

Tesla second-quarter registrations increase by 85% in California: Study

by Pranali Mehta

According to a recent study by Cross-Sell, Tesla Inc. has witnessed a whopping 85% increase in vehicle registrations in California during the second quarter of 2021 as compared to the previous year. The success of the California-based automaker’s Model Y is the primary factor credited for this impressive growth.

Tesla recorded 46,926 vehicle registrations in the second quarter in the other 23 states from where data was collected. Half of these were for the Model Y of which, around 23,556 registrations were reported in California alone.

Tesla posted record vehicle deliveries during the second quarter earlier this month. The company has been facing a semiconductor shortage and heavily relied on sales of more affordable models.

For the record, Tesla’s Model Y is an electric compact crossover utility vehicle launched in 2019. Deliveries for this model started in March 2020.

While investors are waiting eagerly for the American car manufacturer’s second-quarter earnings report which is due on July 26, registrations for the Model Y have increased by more than seven times in California.

However, it is worth noting that registration statistics might not reflect the number of vehicle deliveries with complete accuracy as registrations in the United States usually take 30 days from the time of sale.  

In related news, Tesla’s Model Y has been considered as the most preferred option for the U.S. user base when speaking of battery-powered passenger cars with 53,102 registrations. Meanwhile, the Model 3 has managed to record around 35,468 registrations.

Amid predictions of a fall in EV prices owing to advancements in battery technology, other carmakers have also been planning to roll out new models. It would be interesting to see if Tesla car sales are still the highest in the upcoming years.

Source Credits –

https://money.usnews.com/investing/news/articles/2021-07-15/tesla-registrations-in-california-surge-85-in-second-quarter-data

 

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta dutifully walked down the slated path and worked in a chemical firm for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience in content writRead more...