Tesla Inc. registered fewer cars in California in all four quarters of 2024, as sales of its second-most important model plunged 36 percent for the year.
The electric-vehicle maker’s sales in by far the biggest EV market in the US fell almost 8 percent in the fourth quarter and 12 percent for the year, according to data sourced by the California New Car Dealers Association. Annual registrations of the Model 3 sedan dropped by more than a third.
Tesla’s registrations declined despite the company adding a fifth model — the polarizing Cybertruck — to its lineup last year. While more common business factors also came into play, including changing over the Model 3 sedan early in the year, the company likely lost some business in California as a result of the active role Chief Executive Officer Elon Musk played in the US election.
Musk, 53, spent at least US$288 million (HK$2.25 billion) to help elect Donald Trump and other Republican candidates during the 2024 cycle. California went for Democratic nominee Kamala Harris by 20.2 points in November.
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