Tesla (TSLA) sales are recovering in California amid the pandemic, according to new registration data.
In Q2, Tesla’s sales were unsurprisingly nearly halved in California during the height of the pandemic.
Now we are getting the results for Q3, based on title and registration data collected by Cross-Sell, and it shows that Tesla managed to recover in California [via Reuters]:
The report released on Monday showed registrations in California, a bellwether for the electric-car maker and its largest US 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.
While Model 3 sales were in decline in California, Tesla delivered 7,300 Model Y electric SUVs in the state, based on registration data.
Earlier this month, Tesla confirmed it achieved a new record deliveries of 139,300 electric vehicles during the last quarter.
Obviously, California is an important market for Tesla, and its sales in the state is a good indicator of performance in a more mature market for electric vehicles.
However, strict restrictions in California throughout the pandemic has affected businesses and the economy throughout the state over the last six months.
In my opinion, a 13% decrease in sales is really not that bad in this context.
Also, the decrease is attributed to slower Model 3 sales, which is understandable with the launch of the Model Y, and now that Tesla launched the 2021 Model 3 refresh, I expect sales of the cheaper sedan to pick back up.
What do you think? Let us know in the comment section below.
FTC: We use income earning auto affiliate links. More.