Here’s How Tesla is Winning on Its Home Turf
California is a special place for so many reasons. In terms of the U.S. auto industry, it’s the main battleground of the hybrid and electric vehicle war. Judging by the headlines, ‘How the West Was Won’ would simply be the story of Tesla Motors (NASDAQ:TSLA). However, there’s far more to that tale — as the U.S. capital of green cars is still very much Toyota (NYSE:TM) country. At least for now, that is.
The latest figures say Tesla is a bona fide force on its home turf and using every bit of the advantage it can get. The California New Car Dealers Association (CNCDA) took Polk data and posted their results for vehicle sales through June 2013 in the Golden State. One glance at the new vehicle registrations is enough to make the Detroit Three –not to mention the German Luxury Three — sit behind the wheel and look for check-engine warnings.
Tesla posted a 34,000-percent gain in 2013 sales in California compared to the previous year. Since the Tesla Model S is new for 2013, the giant jump is not as earth-shattering as it sounds. However, a deeper look at the numbers is. The Polk figures indicate Tesla has 12 percent of the market for luxury cars in California, trailing only the BMW 3-Series and the Mercedes Benz (DDAIF.PK) E-Class in the luxury category. Then there was Tesla’s share of the state’s overall market for new light-duty automobiles.