(Reuters) – Tesla Inc’s <TSLA.O> overall vehicle registrations nearly halved in the U.S. state of California during the fourth quarter, according to a Dominion Cross-Sell report, which collates data from state motor vehicle records.
The massive drop comes as tax credit for Tesla buyers ended in 2019. It had fallen to $3,750 at the start of the year and had halved to $1,875 in July.
An existing $7,500 U.S. tax credit for electric vehicles (EVs), which allows taxpayers to deduct a part of the cost of buying an electric car, phases out over 15 months once an automaker hits 200,000 cumulative EV sales, which Tesla hit in July 2018.
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