Tesla Inc.’s TSLA new vehicle registrations in California have declined despite growing adoption of EVs in the domestic market, according to the latest Q1 2025 sales data.
What Happened: The California New Car Dealers Association (CNCDA) released a report on Wednesday, highlighting the new vehicle registrations in the state for Q1 2025. According to the report, Tesla logged over 42,322 new vehicle registrations in California.
In comparison, the company logged over 49,875 registrations in Q1 2024, a 15.1% year-on-year decline. Tesla’s EV market share also fell from 55.5% to 43.9% in Q1 2025.
The EV market share also experienced a marginal YoY decline, at 20.8% in Q1 2025, compared to 21.4% in Q1 2024. However, despite the decline, the report indicated the Tesla Model 3 and Model Y continue to be top-selling models in the state.
Why It Matters: The report comes in as Tesla faces growing uncertainty with its Cybercab and Semi ambitions, which could face disruptions in mass production due to import tariffs on China by the Trump administration.
Experts have criticized Musk for his lack of involvement with the EV giant, owing to the billionaire’s other ventures like xAI and his commitments to the Trump administration’s DOGE, or Department of Government Efficiency.
In the midst of it all, Tesla has been showcasing its FSD prowess, something Elon Musk swears by as he predicted a Tesla car will soon drive itself ‘right to your house.’ Tesla says FSD has logged over 50,000 driverless miles between California and Texas production units.
Price Action: TSLA stock currently trades for $241.55 on the NASDAQ and has experienced a 36.31% YTD decline, according to Benzinga Pro data.
Based on Benzinga’s Edge Stock Rankings, Tesla scores a solid 67.66% in growth and 93.69% in momentum, though it lags in value. Curious how other automakers stack up? Check out Benzinga Edge for deeper insights.
Check out more of Benzinga’s Future Of Mobility coverage by following this link
Read Next:
Photo courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs