EV giant Tesla Inc. (NASDAQ:TSLA) had 203,221 vehicle registrations in California in 2024, nearly 12% lower than the year before, according to recent industry data.
What Happened: “Things aren’t looking so golden for EV automaker Tesla in the Golden State. Tesla’s dominance in the electric vehicle market continues to falter as the brand reported its fifth consecutive quarterly registration decline,” the California New Car Dealers Association (CNCDA) said in a statement.
Tesla’s new registrations fell 7.8% in the fourth quarter and 11.6% in 2024. For the year, Tesla held a 52.5% share of the zero-emission vehicle market, down from the 60.1% share in 2023.
Tesla’s Model Y SUV, however, was the best-selling battery electric vehicle in the state last year with 128,923 registrations. The Model 3 sedan was the second best-selling BEV with 53,056 registrations.
Why It Matters: Tesla’s fall in registrations in California is not inconsistent with its overall performance last year.
The company reported a fall in vehicle deliveries for the first time in over a decade in 2024. Tesla reported global deliveries of 1.79 million vehicles, down from full-year deliveries of 1.81 million in 2023, as the company attempted to ramp production of its refreshed Model 3 vehicle in a high interest rate environment.
Tesla CEO Elon Musk‘s affiliation with Republican President Donald Trump also likely didn’t fare well with customers of the brand in the democratic state.
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Photo courtesy: Tesla
