Tesla triples European auto market share, as overall market falls

EV maker Tesla has defied the declining European auto market, tripling its market share and becoming the most popular electric vehicle for the first half of 2019.

Following from the Californian automaker’s record results for global deliveries in the second quarter of 2019, the encouraging figures are attributed to the release of Tesla’s best-selling Model 3 electric sedan, which was made available in Europe in February 2019.

Tesla’s market share in Europe jumped from 0.16% to 0.54% year on year,  with 37,500 Model 3s sold in the period, a third of which were recorded in June driving it to become the top premium midsize sedan for that month.

Tesla’s achievement for the first half of 2019 was recorded by automotive market analysis firm JATO, which notes, “Bucking the dip seen in many European markets, these brands were able to increase their market share thanks to their latest launches. (Romania’s Dacia also jumped strongly).

“Until February, Tesla was known for big and expensive electric cars. But the Model 3 launch allowed European consumers to access the brand’s technology and drive a pure electric modern car for less. As a result, the new Tesla became Europe’s top selling electric car in less than six months.”

According to JATO, the total number of registrations in Europe in June for Tesla vehicles came to 45,400 units, representing an impressive growth from a third of that sold in the entire year of 2016.

The jump in sales is in stark contrast to Europe’s overall car sales – in June alone, the European car market dropped 7.9% YoY from 2018, which was the largest monthly drop so far this year according to JATO.

Such growth of course does not come without its challenges, of course, as was noted by Tesla CEO and founder Elon Musk yesterday when the carmaker posted a a quarterly loss of $UA408 million, ($A581 million) despite record deliveries for the quarter.

“Our total Tesla fleet size has doubled in the past 12 months, which is like again, just kind of a crazy thing to consider that’s Tesla is almost doubling all cumulative production every year,” Musk said.

Musk also noted that the Model 3 is also now outselling all petrol and diesel competitors combined in the US, and with traction gaining in other markets, expects to be able to meet, and even perhaps exceed, its annualised 2019 delivery goal of 360,000 – 400,000.

Until Tesla’s planned European Gigafactory is operational, Musk also confirmed yesterday that all Teslas bound for Europe will continue to be built at Fremont, even after the Shanghai factory begins manufacture.