Tesla Sees 24% Drop In California Registrations As EV Competition Heats Up
Tesla Inc. (NASDAQ: TSLA) saw a 24% drop in California car registrations in Q2, marking the third consecutive quarter of declining sales. High interest rates and increased competition have driven consumers toward more affordable hybrid options. Meanwhile, Tesla's Model Y market share fell to 53.4% in the first half of the year, down from 64.6%.