Tesla is outpacing the rest of electric vehicle (EV) competition in California–and gas cars–as detailed by recent data from the California New Car Dealer’s Association (CNCDA).
The Tesla Model Y was California’s best-selling vehicle in the first half of 2022, while the Model 3 was the second-best, according to CNBC analyst Phil LeBeau on a Tuesday segment of Squawk Box.
$TSLA sales are surging in California. @Lebeaucarnews breaks down why: pic.twitter.com/owlEDi3te1
— Squawk Box (@SquawkCNBC) August 9, 2022
California is the largest auto market in the U.S., and the most competitive market in the country for EVs.
Additionally, Tesla brand sales jumped a whopping 82 percent in the same time period, even as automakers such as Ford and General Motors (GM) have entered the EV market.
Tesla Model Y Dominates Global EV Sales in June 2022 https://t.co/QEg901t319
— TeslaNorth.com (@RealTeslaNorth) August 1, 2022
LeBeau said, “Tesla’s always done well [in California], but they’ve taken it to a new level in the first half of this year.”
CNBC says that part of what can explain the increase, besides the increasing popularity of EVs, is Tesla’s Fremont, California factory.
Tesla’s Fremont Gigafactory is expected to top 600,000 in annual production this year, making it the top-producing factory of any kind in the U.S.
In California’s overall auto market share, Tesla currently places number two with 10.7 percent, falling behind Toyota which has 17.9 percent of the state’s market share, with Ford (8.7 percent) and Honda (8.6 percent) trailing in third and fourth.
Tesla said at its annual shareholders meeting last week the Model Y is set to become the world’s best-selling car by revenue and in 2023 should take the title by unit volume.
