Tesla Hits 10M, Drains California Rebates

Tesla just crossed the 10 million EV milestone, flexing its manufacturing muscle by doubling output since September 2023. But the real story is unfolding in California, where the new MyFirstEV program funneled $3,500 off a new electric car and Tesla burned through its share of state-backed rebates in less than a week. It’s a tactical win in the country’s EV epicenter—Tesla took nearly 57% of California’s zero-emission vehicle registrations in the first half of the year—but with national EV demand slipping and incentives driving the action, the question is whether Tesla can turn these bursts into lasting, profitable growth.

But here’s the catch: as soon as Tesla’s rebates are gone, shoppers are pushed toward rivals, and Tesla’s U.S. sales remain soft outside the Golden State. Meanwhile, the company’s much-hyped Full Self-Driving (FSD) software is bumping up against hardware limits in millions of older Teslas, triggering reports of overheating and expensive service issues. With the U.S. EV market shrinking and regulatory hangups in Europe, Tesla’s promised software revenue faces stiff headwinds—especially as rivals like Waymo roll out fully driverless robotaxis in key cities.

Based on reporting from TechCrunch, Electrek, InsideEVs, ArenaEV, and EVTech.News.

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