Elon Musk publicly dumped California for Texas--now Golden State customers are getting revenge, dumping Tesla in droves

[Tom of Temecula]

In California, where there are Teslas as far as the eye can see and rapid charging stations aplenty, new drivers are opting out of the $605 billion Elon Musk-led car universe.

Among the top three passenger cars sold in California in the first quarter this year, Elon Musk’s Tesla Model 3 dropped from first place to third, behind the Toyota Camry and the Honda Civic, according to the California New Car Dealers Association’s first quarter auto outlook on Monday. Toyota was the top brand in California this quarter, notching a 9.3% increase in registrations, followed by Honda, which marked an 18.6% rise so far this year. Tesla registrations have dropped in California year-to-date, with a 7.8% drop in the first quarter, following a 9.8% drop in the last quarter of 2023.

California makes up 32.5% of registrations of battery electric vehicles in the U.S. and the sluggish popularity of Tesla among new car registrants comes at a particularly vulnerable time for Tesla as a company and for its CEO. Musk is facing significant pressure from investors who want to see him adopt the norms of a more traditional CEO, step back from his grandiose social-media presence, and to provide a more concrete timeline for producing an affordably priced Tesla. The company reported last week that revenues dropped 9%, which was its largest drop since 2012, while net income dropped a whopping 55% in the first quarter. Three of its top executives, including well-known insider Drew Baglino, resigned in the space of two weeks, which further rattled investors.

“Californians’ love affair with electric vehicle giant Tesla may have peaked,” the CNCDA said in a statement Monday. The group tracks trends in California’s new vehicle market, using data from Experian Automotive. The CNCDA represents California-based franchised new car and truck dealers.

https://www.msn.com/en-us/autos/news/elon-musk-publicly-dumped-california-for-texas-now-golden-state-customers-are-getting-revenge-dumping-tesla-in-droves/ar-AA1nSNOH

[Mike Nelson]

1. I would...

... not want one, and the reason is its owner's stupid social media persona.

[Oopsie Daisy]

2. We agree. The Mister and I are talking about whether to get a plug-in vehicle *

* we are considering whether or not a plug-in model would be worthwhile, but not HIS plug-in model.

[Liberal In Texas]

9. Once you start driving a PHEV you'll wonder what took you so long.

I've had mine for 5 years and now would like a full EV.

[PatSeg]

16. And it is such a shame

as the Tesla is a remarkable car. My son bought one years ago and loves it, but now knowing what he does about Elon Musk, he would never buy one again. He said that if he'd known what a jerk Musk was back then, he would have gone with a different brand.

When it was time to buy a second vehicle, he went with a Rivian.

[ArkansasDemocrat1]

17. No way would I get one. Anything else, please

I was looking at a Subaru Imprezza Saturday.

[Hekate]

3. Hah!

If and when we ever get a new car (the Accord is a mere 17 years old) I think I’ll return to Toyota & get a Camry.

[dem4decades]

4. There's so many options now for EVs, why drive one that leaves a sour taste in everyone's mouth?

I feel bad for people that bought one when it was a good decision, only to have Musk turn the brand into a nightmare.

[jimfields33]

5. We need people to buy electric cars if we want to save the planet.

We have a long way to go.

https://www.edmunds.com/electric-car/articles/percentage-of-electric-cars-in-us.html#:~:text=a%20free%20quote-,What%20percentage%20of%20electric%20cars%20are%20on%20U.S.%20roads%3F,the%20third%20quarter%20of%202023.


1 percent of Americans drive EVs.

[dem4decades]

6. I get that, we don't need them to support a fascist asshole. Buy an EV, just not Musk's.

[jimfields33]

20. I totally agree. My post was just a general thought.

[elias7]

7. Plus, there's the huge AI component and the Full Self-Driving (FSD) piece

Despite the concerns about FSD, the AI component is translatable wirelessly and the safety concerns will slowly diminish to being a safer mode of travel than people driven cars. Not my preference but it does seem inevitable.

EV’s are fun to drive - only test driven by me one afternoon - but i think i prefer that type of drive vs gasoline.

And I agree, the savings on emissions once the production side is figured out is vital

[wolfie001]

12. 80% of Americans can't afford an EV

Of course, that's just my boomer guess but I'm sure it's not far off. I have a condo and there's never going to be a charging station near my unit. So, a big condo complex like mine would never have a resident with an EV. At least not until the technology catches up and they're somewhat affordable. Just my take.

[ArkansasDemocrat1]

18. The need to make electric chargers a mandated part of new apartment construction n/t

[wolfie001]

21. Yes, agreed

Of course, taxing the hell out of REITs and international investors would go a long way towards pushing down the prohibitive cost of housing.

[Liberal In Texas]

8. There are now all kinds of EVs by many auto makers. Nobody needs to buy a Tesla anymore.

There are EVs and PHEVs made by every car maker now in many price ranges. From Rolls Royce and Mercedes to the "Big 3" as well as BMW, Kia/Hyundai, Nissan, VW, etc.

I wish he would just sell Tesla to somebody halfway sane.

[Old Crank]

10. The board could start by

Not giving him his billlion dollar pay out.
Plus now that he lost his bid to keep the SEC off his comments by the Supremes he should learn to turn off his fecal hose.

[wolfie001]

11. The TikTok's concerning his EV "truck" are hilarious

$100,000 pile of trash stuck in garages.

[tanyev]

13. Musk will adopt the norms of a traditional CEO

when Donald Trump adopts the norms of a traditional president—never.

Malignant Narcissists 101.

[ProfessorGAC]

14. Putting A Finer Point On This...

...a company with a 55% quarterly net income drop is still capitalized at $605 billion, as competitors pass them.
This sounds like a company that has achieved their potential, which was the lever that lifted the value to 6x of assets.
When does the market finally correct? There's a general decline over that last 30 months, but it's still way overvalued.

[Johonny]

19. Tesla is view as a tech company

Where other auto companies are viewed as simply car companies. As long as investors view Tesla as more than just another car company it will trade at a premium.

[ProfessorGAC]

22. I Know, But...

...I think that's misguided. Which was sort of my point.
At this point in the corporate life, they are mostly a durable goods manufacturer & the "tech" label isn't justified by their main business activities.

[dembotoz]

15. tesla was an over the top status symbol...now they are more common so why bother

growing up lower middle class i never got the new hot toy until it was no longer hot or new...

It played ok but it was not the same