Tesla (TSLA) car registrations in California in Q1 fell 15% from a year earlier as state consumers gave the "cold shoulder" to the automaker and "controversial owner" Elon Musk, the California New Car Dealers Association said.
"A year and a half of continuous quarterly declines proves this downward trajectory for Tesla is a lasting trend," the association said Wednesday in a statement.
In Q1, 42,322 Tesla vehicles were registered, down from 49,875 a year earlier, the association said.
Tesla's market share in Q1 for zero emission vehicles fell to 43.9% from 55.5% a year earlier, though the company remains the state's market leader in the category, the association said.
Meanwhile, "the potential overhaul of US trade policy has added significant unknowns into the new vehicle sales outlook," the association said. New
vehicle registrations may fall to 1.71 million units in 2025, down 2.3% from 2024.
"Due to the fluid nature of current trade policy, the projection is subject to change," the association said.
Tesla shares fell 2.5% in recent Wednesday trading.
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