Tesla's sales in California, USA plummeted by 24% in the second quarter of 2024

Tesla's sales in California, USA, seem to be on the decline.

On July 18th, Eastern Time, according to the California New Car Dealers Association (CNCDA) report, Tesla's vehicle registrations in California have dropped by 17% compared to last year. Although Tesla's Model Y still maintains the top spot in the state's car sales, the overall sales growth of the brand seems to have peaked.

This marks the third consecutive quarter of declining registrations for Tesla, with a 9.8% decrease in the fourth quarter of 2023, a 7.8% decrease in the first quarter of 2024, and a 24.1% decrease in the second quarter of 2024. The data shows an increasing decline, especially the 24.1% decrease in the second quarter of 2024, indicating that Tesla is facing escalating market pressure in California.

Overnight on Thursday, Tesla's stock price surged by nearly 3.5% at one point. As of Wednesday's close, Tesla's stock price rose from 248.48 yuan at the end of last year on December 29th to $248.5 on Wednesday.