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Tesla sales in Europe rocket past rivals, according to new data

Tesla sales in Europe during February made the American company the fastest-growing automaker on the continent, according to new data from the European Union.

Tesla has long been the dominant EV seller in the United States, but in Europe, it has faced significantly more competition, and the difference in marketshare between the two regions is stark. Tesla still accounts for nearly two-thirds of EV sales in the United States, whereas in Europe, Tesla doesn’t even account for a quarter. Ironically, despite the increased competition in Europe, Tesla seems to be gaining ground, as new data initially reported by Barrons shows that it was the fastest-growing automaker in February.

According to data from the European Union, Tesla sold a total of 19,249 vehicles in February, up by 49.68% compared to February 2022, just shy of Tesla’s infamous 50% growth target. This fantastic growth boosted the automaker’s overall marketshare to 2.4% compared to 1.8% in 2022 and its EV marketshare to 20%.

Luckily it seems as though Tesla is poised to double down on that growth, as the company’s infamous end-of-the-quarter push is now being seen in many parts of Europe, including in Portugal, where the company is overwhelming its available parking spaces and asking owners to pick up their vehicles as quickly as possible.

As noted by both Barrons and Morgan Stanley, this boost in sales is not simply a supply-side phenomenon, though the company’s added production has certainly helped.

Read more:

https://www.teslarati.com/tesla-sales-europe-rocket-past-rivals/

Photo credits:

Teslarati/Esther Kokkelmans