Ana Altchek’s Post

In California, where there are Teslas as far as the eye can see and rapid charging stations aplenty, new drivers are opting out of the $605 billion Elon Musk–led car universe. Among the top three passenger cars sold in California in the first quarter this year, Elon Musk’s Tesla Model 3 dropped from first place to third, behind the Toyota Camry and the Honda Civic, according to the California New Car Dealers Association’s first quarter auto outlook. Toyota was the top brand in California this quarter, notching a 9.3% increase in registrations, followed by Honda, which marked an 18.6% rise so far this year. Tesla registrations have dropped in California year to date, with a 7.8% drop in the first quarter, following a 9.8% drop in the last quarter of 2023. California makes up 32.5% of registrations of battery electric vehicles in the U.S., and the sluggish popularity of Tesla among new-car registrants comes at a particularly vulnerable time for Tesla. Read more: https://lnkd.in/gRxrw9dV

Fortune writes, among the top three passenger cars sold in California in Q1 of this year, Tesla Model 3 dropped from first place to third, behind the Toyota Camry and the Honda Civic, according to California New Car Dealers Association (CNCDA). Toyota Motor Corporation was the top brand in California this quarter, notching a 9.3% increase in registrations, followed by Honda, which marked an 18.6% rise so far this year. Tesla registrations have dropped in California year to date, with a 7.8% drop in Q1, following a 9.8% drop in Q4 of 2023. California makes up 32.5% of registrations of BEVs in the US, and the sluggish popularity of Tesla among new-car registrants comes at a particularly vulnerable time for Tesla as a company and for its CEO. Elon Musk is facing significant pressure from investors who want to see him adopt the norms of a more traditional CEO, step back from his grandiose social media presence, and provide a more concrete timeline for producing an affordably priced Tesla. The company reported last week that revenues dropped 9%, which was its largest drop since 2012, while net income dropped a whopping 55% in Q1. Three of its top execs, including well-known insider Drew Baglino, resigned in the space of two weeks, which further rattled investors. The market share for BEVs fell from 21.5% in 2023, to 20.9% in Q1. The slowdown in sales is hard to parse, but it could be due to the price of Teslas relative to other vehicles, issues with charging infrastructure, or that buyers who wanted to own a Tesla have already purchased the car. “Appealing to the mass market is a challenge Tesla faces,” said the CNCDA.“Other dealers have a broader array of very competitive vehicles, so Tesla doesn’t have the EV space largely to their own like they did a few years ago.” To be sure, this is only an early indicator that Tesla’s popularity is on the decline. Tesla is still the top seller of EVs in California with the Model Y, Model 3, and Model X ahead of the Chevy Bolt and the Volkswagen ID.4, but Q1 BEV market share dropped 6.4%. Mercedes and BMW had the largest gains of sales among BEV in the first quarter, with Mercedes rising 3% and BMW 2.4%. 🚘 🔌 👀 #EVs #automakers #mobility

Oh, you like your Tesla, well you're going to LOVE this 🍿 It's great to see Ford Motor Company stepping up with some bravado with this conquest campaign aimed at current Tesla owners. I've driven Tesla's and the Ford Mach E and I can see how the preference for one over the other could easily go both ways. Also, the Ford F150 Lightning holds one major, distinct advantage over the Cybertruck...you can actually get one. Let the competition heat up...everyone wins. 🥊 Mention a Tesla Driver or Ford Dealer in the comments! #automotiveindustry #cardealership https://lnkd.in/eZ4fNWKS

Tesla Inc. is on the verge of losing a key bragging right it’s held for the past six years: outselling all EV competitors in the U.S. combined.  In the 12 months through May, Tesla sold approximately 618,000 electric cars in the U.S., compared with about 597,000 fully electric vehicles sold by other manufacturers, according to the latest figures from Marklines, a provider of monthly auto industry sales data. Next week, carmakers are slated to report second-quarter sales, which will include popular new models from General Motors Co., Hyundai Motor Company (현대자동차) Co. and its affiliated Kia Worldwide Corp https://lnkd.in/giVPuDyC

It looks like the first Tesla CyberTruck has been resold for $249,999. In the Cybertruck’s order agreement terms, Tesla states: “You understand and acknowledge that the Cybertruck will first be released in limited quantity. You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date.” The company goes on to list the penalty of up to $50,000 if the purchaser of the new Cybertruck is in breach of the resale terms: “Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater. Tesla may also refuse to sell you any future vehicles.” https://lnkd.in/e6tq3_zQ

Tesla's California registrations fall for first time since the pandemic: Filed under: By the Numbers,Green,Tesla Continue reading Tesla's California registrations fall for first time since the pandemic Tesla's California registrations fall for first time since the pandemic originally appeared on Autoblog on Sun, 4 Feb 2024 15:00:00 EST. Please see our terms for use of feeds. Permalink |  Email this |  Comments #car #cars #awesome

Elon Musk publicly dumped California for Texas. Now, new drivers in the jilted state are opting out of the $605 billion Musk-led car universe. bit.ly/4bn3Lb4 Among the top three passenger cars sold in California in the first quarter this year, Elon Musk’s Tesla Model 3 dropped from first place to third, behind the Toyota Motor Corporation Camry and the Honda Civic, according to the California New Car Dealers Association’s first quarter auto outlook on Monday. Toyota was the top brand in California this quarter, notching a 9.3% increase in registrations, followed by Honda, which marked an 18.6% rise so far this year. Tesla registrations have dropped in California year to date, with a 7.8% drop in the first quarter, following a 9.8% drop in the last quarter of 2023.

Elon Musk publicly dumped California for Texas. Now, new drivers in the jilted state are opting out of the $605 billion Musk-led car universe. Among the top three passenger cars sold in California in the first quarter this year, Elon Musk’s Tesla Model 3 dropped from first place to third, behind the Toyota Camry and the Honda Civic, according to the California New Car Dealers Association’s first quarter auto outlook on Monday. Toyota was the top brand in California this quarter, notching a 9.3% increase in registrations, followed by Honda, which marked an 18.6% rise so far this year. Tesla registrations have dropped in California year to date, with a 7.8% drop in the first quarter, following a 9.8% drop in the last quarter of 2023. #tesla

Registrations of Tesla cars in California fell 24% in the second quarter, signaling mounting challenges for the electric-vehicle maker, according to a report by the California New Car Dealers Association (CNCDA). High interest rates and stiff competition has led to subdued demand for electric vehicles as consumers opt for less expensive hybrid cars. The Elon Musk-led electric vehicle maker's Model Y crossover continues to be the best-selling model in the state, but the automaker's market share in the first half of the year fell to 53.4% from 64.6% in the corresponding year-ago period. "Tesla's allure seems to be wearing off, signaling potential trouble for the direct-to-consumer manufacturer," the report said. #tesla #california #elonmusk Read more on Reuters - https://lnkd.in/gW_bSR72

❌🚙 Can't sell your Cybertruck! Well, at least in the first year of ownership. According to some sightings in recent Tesla Model 3 and Model Y purchase contracts, Cybertruck owners must seek permission from Tesla if they wish to flip their vehicle in the first 12 months of ownership. ⬇️ Read more https://loom.ly/6RtoHQE