The electric vehicle (EV) market is experiencing a significant boom, with many manufacturers seeing increased sales and registrations. However, despite this trend, Tesla’s new vehicle registrations in California have declined. This article will explore the latest Q1 2025 sales data and examine the factors contributing to this decline.
Q1 2025 Sales Data
The California New Car Dealers Association (CNCDA) released a report highlighting the new vehicle registrations in the state for Q1 2025. According to the report, Tesla logged over 42,322 new vehicle registrations in California. This represents a 15.1% year-on-year decline compared to Q1 2024, when the company logged over 49,875 registrations.
Market Share and Sales
Tesla’s EV market share also fell from 55.5% to 43.9% in Q1 2025. The EV market share experienced a marginal year-on-year decline, at 20.8% in Q1 2025, compared to 21.4% in Q1 2024. However, despite the decline, the report indicated that the Tesla Model 3 and Model Y continue to be top-selling models in the state.
Why It Matters
The report comes as Tesla faces growing uncertainty with its Cybercab and Semi ambitions, which could face disruptions in mass production due to import tariffs. Experts have criticized Elon Musk for his lack of involvement with the EV giant, owing to his other ventures. In the midst of it all, Tesla has been showcasing its FSD (Full Self-Driving) prowess, with Elon Musk predicting that a Tesla car will soon drive itself to customers’ houses.
Price Action
TSLA stock currently trades for $241.55 and has experienced a 36.31% year-to-date decline. Based on growth and momentum rankings, Tesla scores a solid 67.66% in growth and 93.69% in momentum, though it lags in value.
Key Takeaways
- Tesla’s new vehicle registrations in California have declined by 15.1% year-on-year.
- The company’s EV market share has fallen from 55.5% to 43.9%.
- The Tesla Model 3 and Model Y remain top-selling models in the state.
- Tesla faces uncertainty with its Cybercab and Semi ambitions due to import tariffs.
- The company’s FSD technology has logged over 50,000 driverless miles between California and Texas production units.
Related Articles
For more information on the Future Of Mobility, check out our related coverage. Some key questions that Tesla shareholders want answers to include:
- Self-driving technology and its potential impact on the company’s future.
- The Cybercab and Semi projects, including production schedules and potential disruptions.
- The impact of import tariffs on Tesla’s business.
- Brand damage and how the company plans to address it.