For the first time, the electric car is the best-selling car in Europe. While the car market has still not recovered from the effects of Covid, the Tesla Model 3 has taken the lead.
The European new car market continues to perform better this year than in 2020, but the gap has narrowed, reports JATO Dynamics. By the end of the first half of the year, the total number of registrations was 27% higher than in the first half of 2020. The results up to September show that this gap has narrowed to only 7%.
This year, the industry has responded well to the pandemic, but is now facing new supply chain challenges. EV’s growing popularity is encouraging, but sales are not yet strong enough to offset the large declines seen in other segments.
Dealers still face problems with the availability of new cars due to the lack of semiconductors. As a result, without wanting to wait more than a year for a new car, many consumers are turning to the used car market.
Felipe Munoz, global analyst at JATO Dynamics
EV growth continues
Manufacturers with a large supply of electric and rechargeable hybrid cars have been less affected by the current crisis as European consumers continue to benefit from various incentives and incentives. subsidiesavailable for these vehicles. In contrast, both the lack of chips and the growing severity of the climate crisis have led to a decline in sales of diesel vehicles. In September, low-emission vehicles increased by 44% to 221,500 units per month, while diesel registrations fell by 51% to 167,000 units.
Before the pandemic, 10.3 new diesel cars were registered for each electric or rechargeable hybrid car. Today, this ratio has dropped to only 1.3.
Changes of this magnitude are rare and have been exacerbated by a number of factors. In addition to incentives, OEMs have improved their offerings with more models and better offerings, and many are shifting their limited semiconductor offerings to EVs instead of ICEs.
Felipe Munoz, global analyst at JATO Dynamics
As a result of the EV boom Tesla Model 3 In September, it took the first place in the ranking of European models with 24,600 registered units, which accounted for 2.6% market share. This is both the first time the EV has been a market leader and the first time that a vehicle manufactured outside Europe has taken the top spot.
The strong performance of the Tesla Model 3 can be partly explained by Tesla’s strong sales at the end of the quarter. September has historically been a strong month for US manufacturer registration in Europe, averaging 68% of Tesla’s third-quarter deliveries since 2018. Last month, registrations accounted for 74% of the third quarter. Since entering the European market Tesla Model Y is also required to secure a second position in the BEV rating.
Thanks to the success of these two models, Tesla is the market leader in BEV with 24% of the market, ahead of Volkswagen Group or 22%, Stellantis with 13% and Hyundai-Kia with almost 11%.
The value of Tesla is rising in the sky
At the same time, it was announced that the car rental company Hertz had ordered 100,000 Tesla Model 3. This made Tesla’s value rise sharply and become the first automaker worth more than 1 trillion (million million) dollars. The value of one share exceeded 1’000 USD.
Today, Tesla’s value is 2.5 times that of the two largest carmakers, Toyota and Volkswagen combined.
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Found near electrical appliances. The love for new things has grown with a bachelor’s degree in electrical engineering. Driving an electric car since the harsh winter of 2017 (-30 ° C) and has never been stifled since.
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