• 1,050 days Will The ECB Continue To Hike Rates?
  • 1,050 days Forbes: Aramco Remains Largest Company In The Middle East
  • 1,052 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,452 days Could Crypto Overtake Traditional Investment?
  • 1,457 days Americans Still Quitting Jobs At Record Pace
  • 1,459 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,462 days Is The Dollar Too Strong?
  • 1,462 days Big Tech Disappoints Investors on Earnings Calls
  • 1,463 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,465 days China Is Quietly Trying To Distance Itself From Russia
  • 1,465 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,469 days Crypto Investors Won Big In 2021
  • 1,469 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,470 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,472 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,473 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,476 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,477 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,477 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,479 days Are NFTs About To Take Over Gaming?
China Is Quietly Trying To Distance Itself From Russia

China Is Quietly Trying To Distance Itself From Russia

Western sanctions against Russia are…

Could Crypto Overtake Traditional Investment?

Could Crypto Overtake Traditional Investment?

Despite recent volatility, there is…

  1. Home
  2. News
  3. Breaking News

Tesla Takes A Hit In California Registrations

Tesla

Amid a slump in car sales of any kind during the lockdown, Tesla’s registrations in California plunged by 48 percent year on year to 9,774 vehicles in the second quarter of 2020, according to data from marketing research firm Cross-Sell quoted by Reuters.

Tesla’s Fremont Gigafactory was closed for six weeks in April and May, when most states in the United States, including California, were under stay-at-home orders, and sales of both conventional and electric vehicles (EVs) plunged.  

Tesla and Elon Musk entered into a dispute with the health authorities in Alameda County over the re-opening of the Fremont factory, which the EV maker re-opened in May in violation of a shutdown order issued by the health authorities of Alameda County. Due to the dispute, Musk threatened to move Tesla’s headquarters out of California into more business-friendly states such as Texas or Nevada.

For California registrations, which differ from vehicle deliveries, Tesla’s Model 3 registrations plunged by 63.6 percent to 5,951 vehicles in the second quarter, Cross-Sell data seen by Reuters showed.

Tesla’s registrations in the 23 U.S. states where Cross-Sell collected data showed a 49-percent slump to 18,702 vehicles.

Earlier this month, Tesla reported its second-quarter vehicle and production delivery numbers, which showed 82,000 vehicles produced and 90,650 vehicles delivered, easily beating analyst expectations for deliveries.

“While our main factory in Fremont was shut down for much of the quarter, we have successfully ramped production back to prior levels,” Tesla said.

In a sign that mobility in the United States is recovering after the lockdowns, Musk said two weeks ago that the usage of Superchargers in North America had returned to the pre-coronavirus levels, while Europe is about a week behind in Supercharger usage. China and Asia-Pacific in general are doing great in Supercharger usage, Musk said on Twitter in early July.    

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment