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Tesla's Surprising Lead in Europe
Tesla has taken a surprising lead in Europe with astonishing numbers, as well as continuing to take China by storm, despite a shutdown in May. Let's see what BestInTESLA has to say about this.
Tesla sold 78,906 vehicles in China, according to the CPCA, a delivery reporting agency in China. This beats the second highest number of 70,847 in December of 2021 and shows that Tesla is ramping and getting close to 100,000 vehicles per month in China - an incredible number.
The Tesla Model Y became the best selling EV in China with 52,557 vehicles delivered in June, 2022. Tesla exported 5,017 vehicles, a low number, but we'll see more exports as the end of Q3, 2022 ends. Europe still takes a lot of China deliveries, since Giga Berlin is still not up to volume production.
With record high production levels, we should see the second half of 2022 have some major momentum. Tesla is also leading the way in Europe. This is with Giga Berlin still in just the beginning stages of ramping to volume production, along with Giga Texas in the United States.
Tesla in Europe
Tesla is in the lead in 2022 with 70,105 vehicles and a 13.3% market share. The Tesla Model Y and Tesla Model 3 are pretty closely tied for best sales, and all other EVs are below that, with Volkswagen in 5th and 12th place for its ID.4 and ID.3.
Tesla's 13.3% market share leads Europe by a decisive margin and in 2nd place is Volkswagen at 8.7%, Kia then at 6.8%, Hyundai at 6.6%, and BMW at 6%. I believe Tesla will increase this lead as Giga Berlin continues to ramp production and deliver more vehicles.
When will Giga Berlin ramp to volume production? I think it will be by the end of 2023. Because of this, I would expect Tesla's stock price to be well over $1,200 by the end of 2023. Tesla's Model 3 and Y are the best selling OVERALL cars in Europe, beating the VW Tiguan and Audi A3.
The fact that Tesla is outselling ANY car in Europe is very impressive. Anyone watching carefully will see that gas cars are going to be phased out of use and this makes Tesla a no-brainer investment. I'm looking forward to seeing how Tesla continues to do in Europe (and China).
What do you think about Tesla's lead in Europe? Will Tesla be able to keep this lead?
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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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