Tesla saw a 1.2% increase in registrations in July, led by the Cybertruck.

From Nasdaq: 2024-09-21 03:18:00

Sales growth in the EV industry has slowed, but new registrations in the U.S. saw an 18% spike in July, with EVs capturing 8.5% of the light-vehicle market. Tesla’s Q2 sales dropped for the second consecutive quarter, but registrations in July showed a 1.2% increase, led by the Cybertruck – a positive sign for the company.

However, EVs are currently not selling at full retail prices, with manufacturers offering incentives to match gasoline vehicle prices. Tesla faced a 31% drop in Model 3 registrations in July, a trend since the base model lost federal tax incentives. Despite these challenges, Tesla remains dominant in the EV market, with competition increasing as more EV models enter the market.

Investors should consider Tesla’s changing sales and registration data when deciding whether to invest. The Motley Fool’s Stock Advisor team identified Tesla as a stock that investors may want to reconsider. The service offers guidance on building a successful portfolio and has outperformed the S&P 500 since 2002, providing investors with valuable insights for making investment decisions.



Read more at Nasdaq: A Little Good News for Tesla