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EVs are hot in California. California is crucial for Tesla’s business since the EV share of the state's new car market at 21.4% is nearly three times the U.S. average of 7.5% in 2023.
For the quarter Tesla earned $2.5 billion in the quarter, or 72 cents a share, up 8% from a year ago. Analysts’ consensus forecast had been forecasting earnings per share to slip to 59 cents.
Tesla accounted for 56 percent of new EV sales in California during this year’s third quarter. Newsom’s office has not yet confirmed that Tesla would be carved out from the program.
“We’re just hitting a ‘law of large numbers’ situation here,” Musk admitted recently.
Through September 30, Tesla's EV market share in California declined from 64% to 55% year-over-year — still nearly five times that of Hyundai (5.6%) and BMW (5%) combined.
(Reuters) -Tesla's electric vehicles likely would not qualify for California's new state tax credits under a proposal in the works if President-elect Donald Trump scraps the federal tax credit for ...
In California, where there are Teslas as far as the eye can see and rapid charging stations aplenty, new drivers are opting out of the $605 billion Elon Musk–led car universe.
Tesla is currently offering a $2,410 incentive for the Model 3 RWD in Southern California, meaning the price for this car including all tax incentives drops it to an astounding $22,830 if the ...
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