(Reuters) – Tesla Inc’s vehicle registrations in the US state of California are up nearly 63% in the fourth quarter compared to last year, largely due to the success of the company’s Model Y, according to data from Cross-Sell here , a research firm that collects title and registration information.
Earlier this month, the automaker reported better-than-expected vehicle deliveries for 2020, driven by a steady increase in electric vehicle adoption, although it narrowly missed its ambitious annual target of half a million deliveries during a tough year for the global auto industry. .
The report released Wednesday showed registrations in California, a call to the electric carmaker and the largest U.S. market, rebounded from a third-quarter low of about 16,200 vehicles to about 22,117 vehicles in the three months ending December.
With approximately 11,417 registrations in the state for Tesla’s Model Y compact crossover utility vehicle, it surpassed those for the Model 3. California registrations for Tesla’s Model 3 mass-market sedan were down 34% year-on-year to 7,044.
The total fourth-quarter vehicle registrations in the 23 states where data was collected was 44,749, with Model Y accounting for nearly half of the registrations.
The registration numbers may not accurately reflect the number of vehicle deliveries during the quarter, as registrations in the United States typically take about 30 days from the time of sale.
Tesla, whose stock is up more than 700% in 2020, is expected to report its fourth quarter results after the market closed on Jan. 27.
Reporting by Akanksha Rana and Ayanti Bera in Bengaluru and Tina Bellon in New York; Edited by Vinay Dwivedi