Tesla secured record volumes in May across Europe with a 2.63% market share with its direct to consumer sales model, according to the latest data from JATO Dynamics.
New car registrations increased by 18% to 1.12 million units across Europe and while electric vehicles and SUVs are leading that growth, the volumes are still below pre-pandemic levels.
Total volume year-to-date fell short of the 6.93 million units registered in the same period in 2019, and was similar to the levels seen in 2021 when markets still recovering from lockdowns were hit by the semi-conductor shortage.
Tesla has increased its market share year-on-year from 0.15% to the 2.63% it has across Europe now.
Last month, Tesla registered close to 29,400 units, significantly higher than the monthly total seen in May 2021 (8,810 units), May 2020 (2,757 units), and May 2019 (4,087 units).
Felipe Munoz, global analyst at JATO Dynamics, said: “By making use of incentives and good market position, Tesla has been able to outperform its rivals, while part of the brand’s success is also explained by continuous price cuts.”
Market share increases
In the battery electric vehicle (BEV) segment, Tesla’s market share totaled 17.4% and 18.9% year-to-date, up from 12.2% in the same period last year – the largest market share increase by a significant margin at 6.7 points.
SAIC, the owner of MG and Maxus, followed with an increase of 2.8 points, and in third place Volkswagen Group secured a market share increase of 2.7 points
In contrast, Hyundai-Kia lost 5.6 points of share through May, followed by Stellantis, down by 3.4 points.
Total BEV registrations increased by 65% in May to 169,091 units accounting for 15% of all new vehicle registrations during the month.
In addition to the success of the Tesla Model Y – Europe’s best-selling car between January and May – the market is also being shaken by the MG 4, which secured a record third position in the BEV ranking by model with 6,310 units, ahead of its rival the Volkswagen ID.3 with 5,529 units.
The Volkswagen ID.4 also performed well with 8,543 units (+103%) as the second most popular BEV of the month.
There were also strong increases for the Volvo XC40 BEV (+329%), BMW i4 (+123%), and the BMW iX1, all of which entered the top in the BEV ranking by model in May.
The Dacia Sandero leads again The low-cost model from Dacia again secured the top spot in the overall ranking by model with more than 21,700 units – up by 78% with sales boosted by strong increases in key markets including France, Italy, Spain, and Germany.
Munoz continued: “While the Model Y plays its role in the electric high-end EV segments, the Sandero has continued to gain traction in the low-end ICE segments.”
The Tesla Model Y followed in second place with 21,530 units.
Munoz added: “The popularity of the Model Y has been confirmed in Europe, and it stands a good chance of leading both the European and global model ranking by the end of the year.”
Among the latest launches, Renault registered 7,174 units of the Austral, becoming the brand’s fourth best-selling vehicle; Jeep registered 4,290 units of the Avenger, offsetting the drops posted by the Compass (-41%) and Renegade (-32%), to become its best-seller in May; Alfa Romeo registered 3,240 units of the Tonale, accounting for 69% of the brand’s total volume; and Peugeot registered 1,923 units of the 408.
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- Source: https://www.am-online.com/news/market-insight/2023/06/29/tesla-dominates-european-vehicle-sales-in-may-following-discounting
