Tesla Remains California's Top EV Choice Even As Registrations Drop: Cybertruck Among 10 Best-Selling EVs In Golden State
Portfolio Pulse from Anan Ashraf
Tesla remains the top EV brand in California despite a 12.6% drop in registrations. California's BEV market share is significantly higher than the national average. Tesla's Model Y and Model 3 are the best-selling EVs in the state, with the Cybertruck also in the top ten.
October 31, 2024 | 9:10 am
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POSITIVE IMPACT
Ford saw a 17% increase in EV registrations in California, with the Mustang Mach-E among the top ten best-selling EVs.
Ford's 17% increase in EV registrations and the Mustang Mach-E's presence in the top ten best-sellers indicate positive momentum in the EV market, likely boosting investor confidence.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Rivian saw a 35% increase in EV registrations in California, indicating growth in the competitive EV market.
Rivian's 35% increase in EV registrations suggests positive growth and potential market share gains in California's competitive EV market.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
General Motors' Chevrolet brand saw a 42% drop in BEV registrations, while Cadillac's registrations surged by 315%.
The significant drop in Chevrolet's BEV registrations is concerning, but the surge in Cadillac's registrations may balance the impact. Overall, mixed results for GM in California.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Tesla remains the leading EV brand in California despite a 12.6% drop in registrations. The Model Y and Model 3 are the best-selling EVs, with the Cybertruck also in the top ten.
Tesla's dominance in California's EV market is significant, but the 12.6% drop in registrations may concern investors. However, the strong performance of the Model Y, Model 3, and Cybertruck in sales could offset these concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100