Tesla helps boost EV market share in California’s crashing auto market, raising EV share to a new high. But wait until you see what may happen next year. Watch to the end, to see next year's reasonable forecast.
California New Car Dealers Association (CNCDA) released its latest report based on new car registrations in the state and confirmed that the market is down 16% year-to-date as of September.
But there is some good news, especially for Tesla. The electric vehicle market share in California is at a new high of 16%, and it is gaining momentum.
When you look at the chart, you can see that Tesla's electric vehicles still represent most EVs delivered in the state and brand registration stats highlight just how important the Tesla brand has become in California. So far in 2022, Tesla is one of only two car brands, along with Genesis, to be growing in the state of California.
But Electrek thinks "next year is when things could truly go wild for EVs, and I could see market shares doubling to 40%."
Speaking of 2023, Torque News Tesla reporter Jeremy Johnson writes, "Tesla's upcoming hatchback vehicle will end gas cars. It will be smaller than the Model 3, have a smaller battery, be more efficient, and cost less."
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.