Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Tesla registrations in California nearly halve in second quarter: data

Published 07/15/2020, 08:03 PM
Updated 07/16/2020, 12:26 AM
© Reuters. The Tesla logo is seen on a car in Los Angeles

(Reuters) - Tesla Inc's (O:TSLA) vehicle registrations nearly halved in the U.S. state of California during the second quarter, according to data from Cross-Sell, a marketing research firm that collates title and registration data.

Most parts of the United States were under government-imposed stay-at-home orders between April and June to combat the spread of the coronavirus outbreak, which impacted production and caused a plunge in auto sales.

Tesla's only U.S. vehicle factory in California was shut for some six weeks of the quarter.

The report released on Wednesday showed registrations in California, a bellwether market for the electric-car maker, plummeted almost 48% from a year earlier to 9,774 vehicles in the three months ended June 2020.

Model 3 registrations in the state, which accounted for more than half of the total registrations, fell 63.6% to 5,951 vehicles.

Total vehicle registrations in the 23 states from where the data was collected fell nearly 49% to 18,702 vehicles.

The automaker had earlier this month outpaced analysts' estimates for vehicle deliveries in the second quarter, defying a trend of plummeting sales in the auto industry as COVID-19-related lockdown orders kept people at home.

© Reuters. The Tesla logo is seen on a car in Los Angeles

Registration figures might not accurately reflect the number of vehicle deliveries during the quarter as registrations in the United States typically take about 30 days from the time of sale.

Latest comments

3-5% up today.LOL
not the best release, plus Elon tweeter was corrupted.. Profitability is a joke.. BUT it doesn't matter!! How much we go up today?
Less people buy garbage
hmmm we knew us car sales down not going to help the short recycling this data.
bullish
Extreme Bullish. 3500 by sept
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.