Tesla loses ground in European battery EV market
- Tesla's (TSLA +5.8%) share of the European electric vehicle market deteriorated further in the first month of 2021, after losing market share in 2020, according to automotive analyst Matthias Schmidt.
- The U.S. electric car maker delivered 1,619 battery-powered vehicles to 18 key European markets in January, representing a 3.5% share of all battery EVs registered that month, Schmidt said. That's down from the 1,977 vehicles it delivered in January 2020, which at the time commanded a 5% market share.
- Tesla's 12-month rolling volumes have fallen behind Hyundai (OTCPK:HYMTF +3.7%) and Kia, which are now the third most-popular EV group in Europe.
- In 2019, Tesla sat at the top of European EV charts, delivering 109K vehicles that year, or 31% of the region's battery-EV market. In 2020, Tesla fell to 13% of the European market, falling behind Volkswagen Group (OTCPK:VWAGY +0.3%), and the alliance between Renault (OTC:RNSDF +0.2%), Nissan (OTCPK:NSANY +1.3%), and Mitsubishi (OTCPK:MSBHF -0.5%).
- China, meanwhile, has become the world's largest market for electric vehicles , with 179K battery electric and plug-in hybrid vehicles registered there in January vs. 110K in Europe.
- Other EV companies: (NIO +8.9%), XPeng (XPEV +4.0%), Byd Company (OTCPK:BYDDF +10.8%), Stellantis (STLA +3.0%), Daimler (OTCPKDAIF +0.3%) and BMW (OTCPK:BMWYY +0.7%).