Tesla’s Thunderstruck in California, Tesla rode the lightning, AC/DC-style. ???

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1. Tesla’s Dominance in California:Tesla has been a significant player in the California market. In 2023, the Tesla Model Y emerged as the top-selling vehicle in the state, with an impressive 132,636 units sold. The Tesla Model 3 also performed well, with 82,786 units sold.
2. Market Share and Growth:Tesla’s market share in California remains strong, but there are interesting developments: Diminishing Lead: While Tesla still leads in BEV market share, its lead is narrowing as traditional automakers introduce new electric models. Competition: Rivals like Mercedes-Benz, BMW, and Rivian Automotive are gradually chipping away at Tesla’s dominance. Sales Decline: In 2023, Tesla experienced a 10.5% loss in market share year-to-date2.
3. Used EV Prices and Tesla’s Impact:A report from June 2023 revealed that used EV prices have fallen by nearly 30% year over year. This decline is partly attributed to Tesla’s influence on the market.

While Tesla continues to be a force in the California market, it faces growing competition and shifting dynamics