Fourth-quarter Tesla registrations in California jump 63%: data

(Reuters) – Tesla Inc’s vehicle registrations in the U.S. state of California jumped nearly 63% in the fourth quarter from a year ago, largely due to the success of the company’s Model Y, according to data from Cross-Sell here, a research company that collects title and registration data.

The automaker reported better-than-expected 2020 vehicle deliveries earlier this month, due to a steady increase in electric vehicle adoption, even though it narrowly missed its ambitious target by half -million deliveries for the full year in a tough year for the global auto industry.

The report released Wednesday showed registrations in California, an indicator for the electric automaker and its largest U.S. market, recovered from a third-quarter low of around 16,200 vehicles to around 22,117 vehicles in the three months. completed in December.

At around 11,417, state registrations for Tesla’s Model Y compact crossover utility vehicle exceeded those of the Model 3. California registrations for Tesla’s Model 3 mass sedan fell 34% on an annual basis to 7,044 .

Total fourth-quarter vehicle registrations in the 23 states, where the data was collected, stood at 44,749, with the Model Y accounting for nearly half of registrations.

Registration numbers may not accurately reflect the number of vehicle deliveries during the quarter, as registrations in the United States typically take around 30 days from the date of sale.

Tesla, whose shares have jumped more than 700% in 2020, is expected to release its fourth quarter results after the market closes on January 27.