Tesla is dominating growth in Germany and the U.K., being one of the only few companies to have a positive growth in market share. Let's look at the details of this.
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Tesla Growth Dominating Europe
We have a report of Europe sales for EVs (electric vehicles) from sales data that is coming in from Q1 for Europe. This is for Germany and the U.K. We are talking about the full quarter here. This dataset comes from Pressemitteilung Nr.
When you look at the data for January through March, you see 625,954 vehicles sold in Germany. This is down 4.6% year over year. This gives you a context for Tesla's overall performance and Tesla's sales world-wide are up 68% this year and this is in a down market with supply challenges.
When we see Tesla sales in Germany, they are up 137% year over year. The only company to beat Tesla was Polestar and Polestar only sold 1,109 vehicles whereas Tesla sold 14,408 vehicles. Volkswagen sales were down 14.4% in Q1 of 2022 - about 18,000 less vehicles than last year this quarter. Volkswagen still holds the market lead at 18%, but this is shrinking rapidly.
If you take away Tesla's excellent growth of 137%, the rest of the market in Germany and the U.K. would have been down. Tesla is making the overall market look a lot stronger than it actually is for the other auto makers. Here's some additional Germany numbers looking at Q1, 2022 compared to Q1, 2019:
* Audi: -29.9%
* BMW: -19.6%
* Dacia: -15.8%
* Ford: -55.8%
* Hyundai: -21.1%
* Kia: +0.1%
* Mercedes: -25.9%
* Opel: -38.5%
* Porsche: +34.5%
* Renault: -38.9%
* Seat: -1.3%
* Skoda: -28.2%
* Tesla: +300.7%
* VW: -31.5%
Overall: -27.25% with Tesla at +300.7% - this is a very telling statistic. These numbers are going to change even more over the next 18 months with Giga Berlin opening up. Mercedes has 9.2% market share and with Giga Berlin ramping, Tesla should be competing with that number in the next couple years.
It's very exciting that a visible path for Tesla to gain market share in Europe is seen. Electric vehicles have a 15.4% market share in the U.K. as of Q1, 2022 now, which is up from 7.5% from Q1, 2021. That's a doubling of the percent.
For individual vehicles, we can see that the Tesla Model Y and Tesla Model 3 are in the top 10 vehicles sold - for all vehicles, in the U.K. These vehicles could also be the top selling vehicles by revenue in Q1, 2022 for the U.K. even with the supply being from Giga Shanghai.
The point of all of this is that as the years go by, Tesla appears poised to rise to the market share leader of not just electric vehicles, but total vehicles in Europe. For more information, please see this video from TeslaDaily.
Do you think Tesla will become the market share of electric vehicles in Europe by 2024? Is there another company that will be able to compete with Tesla?
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.
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