FILE PHOTO: A man wearing a face mask following the coronavirus disease (COVID-19) outbreak walks by Tesla Model 3 sedans and Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai, China May 8, 2020. REUTERS/Yilei Sun
April 21, 2021
(Reuters) – Tesla Inc’s vehicle registrations in California dropped marginally during the first quarter compared with last year, weighed down by a slump in Model 3 registrations, according to data from Cross-Sell, a research firm that collates title and registration data.
The automaker reported record vehicle deliveries for the January-to-March quarter earlier this month, as solid demand for less expensive models offset the impact of a global shortage of parts.
California registrations for Tesla’s Model 3 mass-market sedan fell 54% on a yearly basis to 8,060, while Tesla’s Model Y compact crossover utility vehicle garnered 12,227 in the first quarter, Cross-Sell data showed on Tuesday.
Tesla had earlier said it was receiving strong reception of the Model Y in China and is quickly progressing to full production capacity in the country.
The report also showed registrations in California, a bellwether for the electric-car maker and its largest U.S. market, declined from about 22,117 vehicles in the fourth-quarter to around 21,520 vehicles the first quarter.
Total first-quarter vehicle registrations in the 22 states where data was collected stood at 44,502, with Model Y accounting for more than half of the registrations.
Registration figures might not accurately reflect the number of vehicle deliveries during the quarter as registrations in the United States typically take about 30 days from the time of sale.
Tesla, whose shares surged more than 700% in 2020, is expected to report first-quarter results after market close on April 26.
(Reporting by Chavi Mehta, Noor Zainab Hussain and Akanksha Rana in Bengaluru; Editing by Ramakrishnan M.)