RIVN240726P17500
- 0.52
- -0.17-24.64%
Rivian Automotive Newsroom
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Tesla's California sales plunged in the second quarter.
A report released by the California New Car Dealers Association on Thursday showed that Tesla's new car registrations in California in the second quarter of this year fell by 24% year-on-year, marking the third consecutive quarter of decline in Tesla's sales in California. Although the Model Y is still the best-selling car in California, Tesla's market share has been declining throughout the year. The California New Car Dealers Association's report said that Tesla's share of the electric vehicle market in California in the first half of this year was 53.4%, down from 64.6% a year ago. In the first half of this year, Tesla's sales in California fell by 17%. Analysts from the industry organization said, "Tesla's growth has been supported by pent-up demand for electric vehicles, but as more competitors enter the market, it will be difficult for them to maintain their current sales levels."