Demand for SUVs and crossover is so strong that it has encouraged many automakers to give up on making cars. And now Tesla is learning just how good they are at making money.
Fourth quarter Tesla registrations were up 63% in California and, according to data from Cross-Sell, that’s largely thanks to the Model Y. The research firm found that Model Y registrations outpaced those of even the cheaper Model 3.
In fact, Model 3 registrations were down 34% in Q4 to a little more than 7,000. Model Y registrations, meanwhile, were up to nearly 11,500. That accounts for nearly half of all Tesla sales in the state.
The Model Y also benefitted from a wider trend of EV adoption. As we’ve reported before,2020 was a banner year for Tesla registrations and deliveries and the new mass market models (Model 3 and Model Y) are to thank for much of that success.
Indeed, in 23 other states where data was collected,the Model Y accounted for nearly half of all Tesla registrations in Q4. The numbers are certainly encouraging for Tesla, whose latest model appears to be selling like hotcakes.
Tesla will soon face sterner competition in the US from larger automakers that are committing to EVs, yet for now it’s on a roll. Although the e-tron was the best-selling EV in Norway last year, Audi only managed to sell about 5,000 across the U.S. In the UK, meanwhile, the Model 3 outsold the Golf in December.