A Tesla owner with a note on X -model units from protesters outside a Tesla store in Palo Alto, California.
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California, Tesla’s largest US market since it began delivering electric vehicles in 2008, has leaned the brand in the first quarter, with sales falling 15% amid fierce competition and protests in the company’s stores throughout the CEO Elon Musk.
Austin -based company, which is a top beneficiary of environmental conscious consumers and regulations of the environmental state who sold 42,322 vehicles there this year until March, from 49,875 in the same period last year, according to data released by the California New Car Dealers Association Wednesday. The decline in volume reduced its market share to 49.3% in the period, from 55.5% a year ago. It was also the first time under 50% of total EV sales in the state.
At the global level, the company declined 13% in the first three months of the year.
Tesla’s fall in California, as well as total US sales in the quarter, fell into a wider growth trend for battery cars. Total EV sales in the state increased by 7.3% to 96,416, according to the report. The big winners included GM, which saw 62% jump for Chevrolet-Brand EVS, Hyundai and Honda, whose new preface was the third best seller behind Model Y and 3. Last week, Cox Automotive said Tesla sales were reduced by 8.6% to 8.6%. increased by 11.4% in the quarter. At the global level, the company declined 13% in the first three months of the year.
The reduction of Tesla coincides with the controversial decision of Musk to be a high profile member of President Trump’s administration, taking the lead in the efforts of the so -called Doge Department to reduce federal spending with dramatic and blunt cuts in The richest man in the world had promised that Doge could eliminate $ 1 trillion in spending by next year, seemingly to help offset the cost of tax cuts he wants to expand, now estimates that the effort is likely to find $150 billion savings a lot.
Musk’s willingness to take on such a politically party, polarizing role does not serve the Tesla brand well, especially in the democratic-clissing of California or even in the total American market. Caliber, a detailed company that monitors how well the trademarks like and trust consumers, has found that Tesla’s reputation rating has plunged 22 points in 47 from her latest survey. This is well below the previous Tesla 69 brand rating and the national average score for automakers 59, according to Caliber.
Although EV sales increased in California and represented 20.8% of all new vehicles sold slightly from 21% a year ago, but continue to triple the national level, growth is slowing down and is likely to achieve a specified state target of 35% of new vehicles.
“Traders sell what customers want to buy,” said Robb Hernandez, president of the Association of Representatives. “Although the manufacturers we represent increase EV sales in California, with a significant reduction in Tesla sales. EV market penetration is largely flat.
Tesla’s shares decreased by 5% on Nasdaq Trading to $ 241.55 on Wednesday. It’s under 40% this year. The company plans to release the financial results of the first quarter on April 22.
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