Tesla (TSLA) is on pace for a record quarter

Tesla now outsells Toyota in California

The Tesla Model 3 and Model Y have become the two bestselling cars in California by a wide margin and have even surpassed Toyota in the second quarter of 2023. This is an impressive achievement, considering the size of the market and the fact that Electric vehicles have always been lagging behind in terms of market share.

The success of Tesla in this market can be attributed to the sheer number of Electric vehicles they are able to produce and sell. The California New Car Dealers Association (CNCDA) reported that Tesla had sold 41,718 Model 3s and 74,765 Model Ys in the first half of the year, compared to Toyota’s 27,169 Camrys and 26,032 RAV4s. This means that Tesla was the bestselling brand in California with a total of 69,000 units, compared to Toyota’s 67,000 units.

The success of Tesla has also helped push battery-Electric vehicle (BEV) market share to a record high of 21%, with BEVs having completely detached themselves from the growth of plug-in hybrids and hybrid vehicles in the last two years.

Tesla’s success in California is an indication of what is to come across the US in terms of Electric vehicle adoption. If Tesla can keep up this momentum, they could be the leading seller of cars in the US. It will be interesting to see how Toyota responds to this challenge, and how the rest of the US market follows California’s lead.

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