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Tesla Registrations Plunge 24% In California, Its Largest Market

After a week full of abysmal news for Tesla, which some have said is rapidly becoming the new Uber on the bad-to-worse news front, the weekend couldn't come fast enough for Elon Musk who by now is begging for the simple

"a little red wine, vintage record and some Ambien."

A little red wine, vintage record, some Ambien ... and magic!

— Elon Musk (@elonmusk)

But before that can happen, there is even more bad news for the electric car company which today entered a bear market after hitting all time highs just 2 weeks ago: according to Reuters, Tesla registrations in California - by far the largest market of the luxury electric car maker - fell 24% in April from a year ago, based on IHS Markit data. The latest report showing a plateau for Tesla's products comes amid both investor concerns that demand for Tesla's luxury Model S sedan is waning ahead of the mass market Model 3 launch, the sales of its Model X actually declined...

... and follows a scathing Goldman report which effectively said that Tesla can kiss its aggressive growth forecasts goodbye.

The punchline: IHS reported April Tesla registrations fell to 2,177 from 2,867 in California...


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