According to data released by the California Air Resources Board, CARB, Tesla Motors was the top seller of the zero-emission vehicle credits that regulatory board requires car makers to have if they want to sell cars in that state. Toyota was the top seller of hybrid-car credits.
Tesla sold 1,311.52 ZEV credits from Oct. 1, 2012, through Sept. 30 this year. Suzuki Motor Corp., the next biggest seller, transferred about 41 credits. Though Suzuki no longer sells cars in the United States, they still have credits accumulated from prior sales. Toyota transferred 507.5 plug in zero emission vehicle credits generated by its Prius hybrid. General Motors Co. acquired the same number as Toyota sold, so presumably GM bought them from its Japanese rival.
Automakers, if they want to sell cars and light trucks in California, must sell EVs or other zero emissions vehicles in proportion to their market share in the state. The goal is to have a million and a half ZEVs on California roads by the year 2025. If companies generate more credits than their sales require, CARB allows those credits to be sold. Each Tesla Model S earns the company as many as 7 ZEV credits, the maximum issued by California.
Companies listed by CARB as buying ZEV credits over the past 12 months were Chrysler Group LLC, GM; Honda Motor Co.; Jaguar Land Rover; Fuji Heavy Industries Ltd.’s Subaru; and Volkswagen AG. CARB does not keep track of specific trades or prices, saying the goal is for all automakers covered under California law are compliant.
Some indication of the pricing can be found in company financial reports. Tesla reported that 12% of it’s revenue in the first six months of 2013 came from ZEV credit sales amounting to $119 million. Tesla CEO Elon Musk said that the company’s ZEV credit sales will decline in the second half of the year.