Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Mike RICHARD
Oct 21, 2020 2:25PM ET
Free news
0
0
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details
Tesla third-quarter registrations in California drop 13%: data
© Reuters. FILE PHOTO: Tesla's primary vehicle factory in Fremont, California, is shown in May 2020
(Reuters) - Tesla (NASDAQ:TSLA) Inc's vehicle registrations in the U.S. state of California dropped 13% in the third quarter compared with last year, according to data from Cross-Sell https://www.cross-sell.com, a research firm that collates title and registration data.
The report released on Monday showed registrations in California, a bellwether for the electric-car maker and its largest U.S. market, recovered from a second-quarter low of roughly 9,800 vehicles to around 16,200 vehicles in the three months ended September. But third-quarter numbers lagged some 13% behind last year's due to a large drop in Model 3 registrations.
California registration for Tesla's Model 3 mass-market sedan, which in the past accounted for more than half of total registrations, fell 60% on a yearly basis to 6,500.
At nearly 7,300, registrations in the state for Tesla's Model Y compact crossover utility vehicle surpassed those for the Model 3.
Earlier this month, Tesla said it delivered 139,300 vehicles in the third quarter, an all-time record, yet shares fell as some analysts doubted if the world's most valuable carmaker could hit its ambitious year-end target of half a million deliveries.
Total third-quarter vehicle registrations in the 23 states where data was collected and which Cross-Sell said account for 65% of the U.S. market, remained roughly equal to last year at around 32,800 vehicles.
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.
Tesla, whose shares have surged more than five-fold this year, is expected to report third-quarter results after market close on Wednesday.
Related Articles
Shares struggle after hot UK inflation, New Zealand rate hike
By Reuters - Aug 17, 2022
2
By Danilo Masoni (Reuters) - World shares struggled and oil prices fell on Wednesday as the UK's highest inflation since 1982 and a rate hike in New Zealand reminded investors of...
Futures drop as Target results disappoint, growth stocks slip
By Reuters - Aug 17, 2022
(Reuters) - U.S. stock index futures fell on Wednesday after weak results from retailer Target rekindled fears about the health of U.S. consumers, while growth stocks came under...
Volatile rouble gains, Russian stocks steady as oil prices hit low
By Reuters - Aug 17, 2022
By Alexander Marrow MOSCOW (Reuters) -The rouble soared to a one-week high against the euro on Wednesday as Russia's currency and stocks swung in volatile trade, hurt by oil...
Comments (9)
TL Chan
Oct 20, 2020 2:52AM ET
Blame all this mess to Cathie Wood who super pump the price target, on a short period of time all the way up up to the moon , and she know it well the story won't last long, so she squeeze the pump in short time!
1
0
Gershom Zvi
Oct 19, 2020 11:37PM ET
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.
4
1
Gershom Zvi
Oct 19, 2020 11:37PM ET
How about New York state I guess it is opposite
1
1
Major Woody
Oct 19, 2020 10:45PM ET
Let's see.. Sales slipping globally. Forced to ship overstock from Shanghai to Europe. Warranty periods cut/discontinued abruptly. PR department canceled. Company not responding to reporters. Water supply to German factory site cut due to unpaid bills. Company missing mile stone after next. Competitors flooding the EV market and showing strong sales. Stock trading at 1100+ forward multiples. Guidelines driven by random tweets from suspicious CEO and fanboy blogs... This is gonna end well :)
6
5
Kaveh Sun
Oct 19, 2020 10:31PM ET
The tax incentive got cut the last 2 years. They used to get car pool sticker n 15k then 8k tax refund. Lots of buyers in CA bought it just for the car pool sticker.
0
0
Oct 19, 2020 8:39PM ET
It is only about california.they will look on total numbers of delivery
1
4
Jesse Mulliniks
Oct 19, 2020 8:26PM ET
Reality is setting in. We have reached the end of the debt cycle.
2
2
David Pearlstone
Oct 19, 2020 8:18PM ET
Cause everyone moved to texas
4
2
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.