image via California Auto Outlook
The California Auto Outlook recently released a new report covering the first quarter of 2020. While the report takes an in-depth look at several aspects of the vehicle industry and market in California, it also shares some good news for Tesla owners. The Tesla Model 3 sold 18,856 registered vehicles in the state of California in the first quarter of the year alone. Furthermore, the sales numbers also qualified the Model 3 for the best selling ‘near luxury’ vehicle across the state.
There’s some more data in the report that gets even more captivating once you compare some of the results from the Tesla Q1 Earnings Call report. For example, the California Auto Outlook report shows that Tesla takes 4.6% of the California New Vehicle Market Share. However, the report also indicates Tesla was one of a select few car companies mark the largest increases in market share across the quarter. Of course, when referencing Tesla’s Q1 earnings, this makes sense. The company logged “Adjusted earnings per share (EPS): $1.24 versus an expected loss of $0.34. Revenue: $5.99 billion versus an expected $5.8 billion.” according to news sources at Business Insider.
These results coupled with Tesla’s rising market in China. Induction into the S&P 500 also looks to be on the horizon. For Tesla Inc. the future looks bright.
