• 1 day Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 1 day 14 Million People Will Lose Unemployment Benefits On December 31st
  • 3 days Why 12 Million American Millionaires Isn’t Good News
  • 4 days Big Oil Is Paying The Price For Investing In Renewables
  • 5 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 6 days Did Amazon Just Democratize Prescription Drugs?
  • 7 days The Private Space Race Just Got Very Real
  • 9 days Short Sellers Are Willing Big In This Turbulent Market
  • 10 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 11 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 12 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 13 days Black Friday Could Be Retailers’ Only Hope
  • 14 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
  • 15 days The Real Reason Why Uber And Lyft Stocks Have Soared Nearly 50%
  • 17 days Bitcoin Heads Towards $16,000 And No One’s Cashing In
  • 18 days Elon Musk’s $250 Tesla Tequila Is Already Sold Out
  • 19 days Will The San Francisco Wealth Tax Spark An Exodus Of The Rich?
  • 20 days The Fin-Tech IPO Of The Century Just Got Crushed
  • 21 days UK Bookies Report Largest-Ever Political Bet Ahead Of Election Results
  • 22 days Better Safe Than Sorry: 5 Alternative Investment Plays
  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