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Tesla's Regisrations In California Drop 13% In Q3

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Tesla's Regisrations In California Drop 13% In Q3

Tesla Inc's (NASDAQ: TSLA) vehicle regisrations in California for the third quarter fell 13% year-over-year to 16,200 vehicles, according to research firm Cross-Sell, reports businessworld.

California, which is Tesla's largest market in the U.S., saw regisrations of 9,800 vehicles in the second quarter due to shutdown in Fermont.

Though the third quarter saw 65% sequential growth, it is still a significant year-over-year drop.

Largest drop came from decline in Model 3 regisrations, which fell 60% year-over-year to 6,500 units.

Total regisrtaions in the 23 states remained roughly equal to last year at 32,800 units. These states account for 65% of the total U.S. market.

Earlier this month, the Elon Musk-led company reported 139,300 deliveries in the third quarter, still far from its full-year target of 500,000 deliveries.

Tesla is scheduled to report its third quarter earnings on Wednesday after market close.

Price Action: TSLA shares are down 1.62% at $423.86 on last check Tuesday. The shares are up 415% year-to-date.

Photo Courtesy: Wikimedia

 

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