Money
Californians go crazy for EVs with huge Tesla spike
More Californians are jumping into the world of electronic vehicles – with Tesla registrations rising 85%
The Elon Musk-owned company has seen sales lift in sunny California, as locals fall in love with the future of electric cars.
Tesla vehicle registrations in California rose more than 85% in the second quarter versus last year, largely due to the success of the company’s Model Y.
According to data from Cross-Sell, a research firm that collates title and registration data, California registrations for the Model Y, Tesla’s electric crossover utility vehicle, jumped to 13,581.
Despite a global semiconductor shortage, the automaker posted record vehicle deliveries for the April-to-June quarter earlier this month – relying on older models to lead sales.
Bitcoin drop to influence Tesla?
The focus is now on the company’s second-quarter earnings report due on July 26, with investors waiting to gauge if bitcoin’s recent fall would hit Tesla’s bottom line, due to its exposure to the cryptocurrency’s volatility.
Tesla has been increasing prices for its vehicles in recent months, with billionaire boss Elon Musk blaming the rise on “major supply chain price pressure”, especially raw materials.
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