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(Reuters) – Tesla Inc’s vehicle registrations in California rose more than 85% in the second quarter from a year ago, largely thanks to the success of the company’s Model Y, according to data from Cross- Sell https: //info.cross-sell .com / tesla-special-report-0, a research company that collects title and registration data.
The automaker posted record vehicle deliveries for the April-June quarter earlier this month as it faced a semiconductor shortage and relied on sales of its cheaper models.
California registrations of the Model Y, Tesla’s electric crossover utility vehicle, more than increased by seven to 13,581, according to cross-selling data on Thursday.
The focus is now on the company’s second quarter earnings report due on July 26, as investors wait to determine whether the recent drop in bitcoin would affect Tesla’s earnings, due to its exposure to volatility in the market. cryptocurrency.
Total second quarter vehicle registrations in the 23 states where the data was collected was 46,926, with the Model Y accounting for more than half of registrations.
California, an indicator for the electric car maker, accounted for about half of vehicle registrations in those states with a total of 23,556 registrations, according to data from Cross-Sell.
Tesla has raised the prices of its vehicles in recent months, with billionaire boss Elon Musk in May attributing the rise to “supply chain price pressure”, especially raw materials.
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 time of sale.
(Reporting by Akanksha Rana and Chavi Mehta in Bangalore; editing by Devika Syamnath)
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