SMM: according to Cross-Sell, a research company that collates property rights and registration data, Tesla (Tesla) 's new car registration in California fell 13% in the third quarter of this year compared with the same period last year, due to a sharp drop in Model 3 registration.
Registrations of Tesla new cars in California rebounded to about 16200 in the three months to September from a low of about 9800 in the second quarter, according to a report released Monday local time. California is a bellwether for Tesla's sales and the electric car company's largest U. S. market.
However, due to the sharp decline in Model 3 registration, Tesla's new car registration in California fell about 13% in the third quarter compared with the same period a year earlier. The registration of Tesla's mass-market model, the Model 3, in California fell 60 per cent year-on-year to about 6500. In the past, the registration of this model accounted for more than half of Tesla's total registration.
By contrast, Tesla's compact crossover Model Y, launched in March, has nearly 7300 registered in California, surpassing the Model 3.
Earlier this month, Tesla said 139300 cars were delivered in the third quarter of this year, an all-time high. But the company's shares fell rather than rose as some analysts were sceptical that the world's most valuable carmaker had achieved its ambitious goal of delivering 500000 vehicles this year.
Cross-Sell said that the total number of new cars registered by Tesla in the 23 states it collected in the third quarter was about 32800, roughly the same as last year. These states account for 65% of new car registrations in the United States.
It is worth noting that the registration volume does not accurately reflect Tesla's actual delivery in the quarter, because in the United States, it takes about a month from sales to registration.
Tesla shares fell 2.01 per cent to $430.83 on Monday and have more than quadrupled so far this year. The company is scheduled to report third-quarter results after trading on Wednesday.
