{"id":22192,"date":"2024-07-19T15:48:55","date_gmt":"2024-07-19T15:48:55","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=784777"},"modified":"2024-07-19T15:48:55","modified_gmt":"2024-07-19T15:48:55","slug":"teslas-california-car-registrations-fall-for-third-straight-quarter","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/07\/19\/teslas-california-car-registrations-fall-for-third-straight-quarter\/","title":{"rendered":"Tesla\u2019s California Car Registrations Fall for Third Straight Quarter"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/img\/social\/opengraph\/ij-social-default-1200x630.png\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2024\/07\/19\/784777.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2024\/07\/19\/784777.htm?comments\" rel=\"nofollow\">1 Comment<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"reuters\">Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry data on Thursday.<\/p>\n<p>High interest rates and stiff competition have softened demand for electric vehicles as consumers opt for less-expensive hybrid cars.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"auto\" data-revive-companies=\"tesla\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>Potential Tesla customers in the United States have been shying away from buying its electric cars, partly due to CEO Elon Musk\u2019s polarizing persona.<\/p>\n<p>Musk\u2019s embrace of Republicans and outspoken comments have sparked concerns about Tesla\u2019s brand, especially in liberal states such as California, which accounts for 10% of the company\u2019s global deliveries.<\/p>\n<p>The world\u2019s richest man publicly endorsed former President Donald Trump for the first time in the U.S. presidential race after the assassination attempt on the Republican candidate on Saturday.<\/p>\n<p>Tesla\u2019s California registrations fell to 52,211 vehicles in the second quarter, according to a report by the California New Car Dealers Association.<\/p>\n<p>The battery electric vehicle market slipped only 1.3% during the period. In contrast, sales of hybrid vehicles surged 22% in California.<\/p>\n<p><strong>Related: <a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2024\/07\/18\/784410.htm\">California Needs a Million EV Charging Stations \u2014 But That\u2019s \u2018Unlikely\u2019 and \u2018Unrealistic\u2019<\/a><\/strong><\/p>\n<div class=\"bzn bzn-sized bzn-intext-2\">\n<ins data-revive-zoneid=\"162\" data-revive-topics=\"auto\" data-revive-companies=\"tesla\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>\u201cTesla\u2019s allure seems to be wearing off, signaling potential trouble for the direct-to-consumer manufacturer,\u201d the report said.<\/p>\n<p>From January to June, Tesla saw its registrations in California slump 17%, even as distant rivals such as Hyundai Motor, Kia Motors, BMW, Mercedes-Benz, Ford, and Rivian increased sales by double-digit percentage points.<\/p>\n<p>The electric-vehicle maker\u2019s Model Y crossover continues to be the best-selling model in the state, but its market share in the first half of the year fell to 53.4%, from 64.6% in the year-ago period.<\/p>\n<p>In 2021, Tesla moved its headquarters from California to Texas, and Musk said this week his other companies such as Space X and X will follow suit over his disagreement with Governor Gavin Newsom\u2019s approval of a bill on transgender kids.<\/p>\n<p>Tesla, which is set to report quarterly results on Tuesday, handed over more vehicles to customers in the second quarter than analysts had expected, although deliveries were lower than a year ago.<\/p>\n<p>(Reporting by Akash Sriram in Bengaluru and Hyunjoo Jin in San Francisco; Editing by Shounak Dasgupta, Vijay Kishore and Rod Nickel)<\/p>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/location\/california\/\" class=\"btn btn-sm btn-primary tagtag\">California<\/a> <a href=\"https:\/\/www.insurancejournal.com\/auto\/\" class=\"btn btn-sm btn-primary tagtag\">Auto<\/a> <a href=\"https:\/\/www.insurancejournal.com\/company\/tesla\/\" class=\"btn btn-sm btn-primary tagtag\">Tesla<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"784777\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! 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