Tesla Model Y Best-Selling Vehicle In California For 2023, But Rivian Registrations Witness Largest Bump
Portfolio Pulse from Anan Ashraf
Tesla's Model Y was the best-selling vehicle in California in 2023, with 132,636 new registrations, contributing to Tesla's total of 230,588 new BEV registrations, a 24.6% increase from 2022. Rivian saw the largest increase in new registrations, with 10,297 vehicles registered, a 142.7% jump. The EV market share in California rose to 21.4%, while internal combustion engine market share dropped to 63.9%.
January 30, 2024 | 3:12 am
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POSITIVE IMPACT
Rivian experienced the largest increase in new vehicle registrations in California, marking significant growth and market penetration for the EV startup.
Rivian's substantial increase in new vehicle registrations reflects growing consumer interest and market acceptance, which could lead to increased investor confidence and a positive impact on RIVN's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla's Model Y became the best-selling vehicle in California with significant growth in new registrations, indicating strong brand presence and consumer demand in the EV market.
Tesla's Model Y leading sales in California is a strong indicator of the company's market dominance and consumer preference, which could positively influence investor sentiment and potentially drive up TSLA's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90