Shulou(Shulou.com)11/24 Report--

Despite Tesla's price-cutting strategy in the US market, the company's market share in its key California market fell in the first quarter of this year, according to data released on Friday.

Tesla's market share in California's pure streetcar market was 59.6% in the first quarter of this year, down from 72.7% for the whole of last year and the lowest since 2017, according to the California Energy Commission.

During the same period, the share of competitors such as Volkswagen and GM's Chevrolet and Kia have all increased, albeit still in single digits.

Last year, Tesla's sales in California accounted for 16% of the carmaker's global deliveries.

Tesla CEO Elon Musk's pursuit of Twitter and his preference for Republicans have raised concerns about the Tesla brand, especially in liberal states such as California.

Tesla has been cutting prices in the US since January, cutting prices six times in California, a key market. In addition, the company's first-quarter profit margins were affected by price cuts in China, Europe and other markets, with Tesla's share price falling nearly 10 per cent on Thursday. Mr Musk later said the company would put sales growth ahead of profits in a weak economy.

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