The Tesla Model 3 dropped from the top-selling passenger car in California to third place in the first quarter. Toyota was the top automaker brand in California, with Honda second, as Tesla registrations declined 7.8% year-to-date after falling 9.8% in the fourth quarter. California accounts for more than 32% of US battery electric vehicle registrations. The decline is cited due to Tesla prices relative to competitors, charging infrastructure issues, and buyers who wanted a Tesla may have already gotten one. Elon Musk's controversial public stances on political issues may also be impacting demand, especially in liberal-leaning California. Tesla remains the leading electric vehicle seller in California, though its market share for battery electric vehicles fell by over 6% in the first quarter.
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00:00 It's Benzinga and here's what's on the block.
00:02 The Tesla Model 3 dropped from the top selling passenger car in California to third place in
00:07 the first quarter. Toyota was the top automaker brand in California with Honda second as Tesla
00:12 registrations declined 7.8% year to date after falling 9.8% in the fourth quarter. California
00:19 accounts for more than 32% of US battery electric vehicle registrations. The decline is cited as a
00:24 result of Tesla prices relative to competitors, charging infrastructure issues, and buyers who
00:29 wanted a Tesla may have already gotten one. Evon Musk's controversial public stances on
00:34 political issues may also be impacting demand, especially in liberal-leaning California.
00:40 Tesla remains the leading electric vehicle seller in California, though its market share
00:44 for battery electric vehicles fell by over 6% in the first quarter. For all things money,
00:48 visit Benzinga.com.