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Briefing

Tesla registrations plunge in California after U.S. slashes its buyer tax subsidy

According to the latest data, registrations plummeted 46.5 per cent to 13,584 in the quarter ended December 2019, from 25,402 in the same period a year earlier. (Reuters)

Briefing

Tesla registrations plunge in California after U.S. slashes its buyer tax subsidy

By Fatima Syed
Jan 16, 2020
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According to the latest data, registrations plummeted 46.5 per cent to 13,584 in the quarter ended December 2019, from 25,402 in the same period a year earlier. (Reuters)

Talking point: The US$7,500 tax credit for buyers of electric vehicles phases out over 15 months once an automaker hits 200,000 cumulative EV sales; Tesla hit that mark in July 2018. Ontario has seen a similar trend: after the provincial government cancelled an EV rebate in 2018, sales dropped more than 55 per cent from the same period in 2018, according to data from Electric Mobility Canada. The report comes nearly two weeks after Tesla delivered a record number of cars in the fourth quarter, which helped send its stock price soaring. While registrations may have dropped in California, the Tesla Model 3 topped electric-vehicle sales in Norway, which now account for 42 per cent of its automotive sales in 2019.

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