Tesla Motors Inc (NASDAQ:TSLA) was the top seller for zero-emission vehicle credits that the regulatory board requires car makers to have if they want to sell them in the state. Toyota is known as being the top seller of hybrid-car credits. This is based on data from California Air Resources Board (CARB).
Tesla Motors Inc (NASDAQ:TSLA) sold 1,311.52 ZEV credits from Oct. 1, 2012 through Sept. 30, 2013. Suzuki Motor Corporation transferred around 41 credits, but they no longer sell vehicles in the U.S. Suzuki still has credits accumulated from previous sales. Toyota transferred 507.5 plug in zero emission vehicle credits generated from the Prius hybrid. General Motors acquired the same number as Toyota sold so it is possible that GM bought them from Toyota.
In California, automakers are required to sell EVs or other zero emission vehicles in proportion to their market share in the state. California has a goal of hitting a million and a half ZEVs by 2025. When companies generate more credits than required, the CARB organization lets them sell credits.
Here is a chart of the ZEV Credit transfers between 10/2012 and 9/2013:
Every Tesla Motors Inc (NASDAQ:TSLA) Tesla Model S earns around 7 ZEV credits for the company, which is the maximum issued by California. The companies listed as buying ZEV credits in the last year were Chrysler, GM, Honda, Jaguar, Fuji Heavy Industries, Subaru, and Volkswagen.
Tesla Motors Inc (NASDAQ:TSLA) reported that 12% of their revenues in the first six months of 2013 came from ZEV credit sales at a total of $119 million. However, Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk said that the company’s ZEV credit sales will drop in the second half of this year.