Tesla Inc. registered fewer cars in California in all four quarters of 2024, as sales of its second-most important model plunged 36 percent for the year.

The electric-vehicle maker’s sales in by far the biggest EV market in the US fell almost 8 percent in the fourth quarter and 12 percent for the year, according to data sourced by the California New Car Dealers Association. Annual registrations of the Model 3 sedan dropped by more than a third.

Tesla’s registrations declined despite the company adding a fifth model — the polarizing Cybertruck — to its lineup last year. While more common business factors also came into play, including changing over the Model 3 sedan early in the year, the company likely lost some business in California as a result of the active role Chief Executive Officer Elon Musk played in the US election.

Musk, 53, spent at least US$288 million (HK$2.25 billion) to help elect Donald Trump and other Republican candidates during the 2024 cycle. California went for Democratic nominee Kamala Harris by 20.2 points in November.

How Tornadoes Impact the Economy

How Tornadoes Impact the Economy

How Importing and Exporting Impacts the Economy

How Importing and Exporting Impacts the Economy

What Happens When a Utility Goes Bankrupt?

What Happens When a Utility Goes Bankrupt?

Origins of Black Wall Street

Origins of Black Wall Street

Labor Union: Definition, History, and Examples

Labor Union: Definition, History, and Examples

Is the United States a Market Economy or a Mixed Economy?

Is the United States a Market Economy or a Mixed Economy?

Eggspensive? Yes. Eggflation? Not a Chance

Eggspensive? Yes. Eggflation? Not a Chance

CK Asset to offer 2,700 homes at five projects

CK Asset to offer 2,700 homes at five projects

China weighs probe into Apple’s app store fees, practices

China weighs probe into Apple’s app store fees, practices

State Pavilia flats priced 25pc below market rates

State Pavilia flats priced 25pc below market rates

Trump-driven volatility sends Asian funds searching for shelter

Trump-driven volatility sends Asian funds searching for shelter

China to roll back clean power subsidies after boom

China to roll back clean power subsidies after boom