This couldn't have anything to do with it...
Posted on 07/06/2017 8:01:55 PM PDT by Rockitz
Registrations of Tesla Inc vehicles in California, by far the largest market of the luxury electric car maker, fell 24 percent in April from a year ago, according to data from IHS Markit.
The findings come as investors worry that demand for Tesla's luxury Model S sedan is waning ahead of the mass market Model 3 launch.
Tesla earlier this week reported first-half global deliveries of its Model S and its Model X SUV at the low end of its own forecast, driving down the stock and raising questions about demand for the older models.
Tesla’s share price more than doubled between early December and late June as investors bet on Chief Executive Elon Musk’s strategy to transform the low-volume luxury electric car maker into a diversified producer of mass market vehicles, storage batteries, electric commercial trucks and rooftop solar panels. The company’s market value rose past larger rivals General Motors Co and Ford Motor Co.
Since June 23, however, Tesla shares have fallen by nearly 20 percent amid concerns that demand for the company’s existing models is weakening.
Overall sales of electric vehicles in the United States remain stuck at less than 1 percent of total vehicle sales, despite a growing number of models fielded by Tesla and other car makers.
Tesla declined to comment on California registration figures and noted that second-quarter global deliveries rose 53 percent from a year earlier, to just over 12,000 Model S and just over 10,000 Model X. It said earlier this week that battery pack production problems held back vehicle output in the second quarter until early June.
California, a haven for environmentalists and techies, is one of the company's leading markets. The company does not break out results by geographic area.
(Excerpt) Read more at reuters.com ...
As if this didn’t take the wind out of his sales...
What does the beginning of an electric powered death spiral look like?
At least there are some upsides to low oil prices.
I have a feeling Elon is about to find out.
Everybody is waiting to by a Volvo since Volvo is getting out of the gasoline engine business.
This couldn't have anything to do with it...
That’s a shame. (Seinfeld)
They're probably still buying them but registering them in Arizona where it's still within reason to register a car.☺
About $2.73++ in my corner of CA.
By the way slick, that pic ya just posted of the CA gas prices was from December 8, 2015.
http://grephaxs.com/oil-gas-prices-and-america/
$2.59 for Regular @ Costco in Gilroy, CA yesterday.
Laugh if you must but electric is the future.
$1.91 at ours last week.
Yep, no doubt...Wouldn’t be surprised if ya drove over to the coast it would go up another quarter or so.
Not in California - add a dollar and a quarter to each of those prices.
Volvo is betting on it.
I’ll be laughing at them too.
To short a range, to long to charge.
Ping.
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