Tesla hasn’t seemed to have much of a problem delivering vehicles, though news from California in Q3 2020 has some onlookers puzzled and startled.
According to Yahoo Finance, Tesla vehicle registrations in the state of California dropped 13% in Q3, as compared to the same period last year. The report was based on data collected by Cross-Sell, a firm specializing in research of title and registration data.
Released on Monday, the report showed growth from the company’s Q2 low, having registered just 9,800 units at the time, to about 16,200 units between July and September. However, Q3 saw a major drop-off in Model 3 registrations, ultimately causing the 13% cut in registrations.
Here is a chart that shows how Tesla registrations fluctuate in Europe in the first vs second vs third month of the quarter. We will see the same pattern in Q3 & Q4 2020. pic.twitter.com/GA2GZnxv7J
— Troy Teslike (@TroyTeslike) August 22, 2020
Earlier this month, Tesla stated it had delivered 139,300 vehicles in Q3, an all-time record for the global electric vehicle manufacturer. However, shares still fell as experts were skeptical of the company’s ability to hit its 2020 goal of half a million deliveries by the end of the year.
Registration isn’t a direct reflection of vehicle deliveries, though. In fact, it often takes about 30 days from the point of sale for a vehicle to become registered in the US. This means many cars, if purchased in the latter parts of Q3, may not become registered until early Q4.
Following the market close on Wednesday, Tesla will share its Q3 results with the public.
