tesla, the U.S. electric car maker, saw its market share in Europe decline in January, according to new data.
Marketwatch reports that according to analyst Matthias Schmidt’s report, in 18 major European markets (excluding 13 Central and Eastern European countries), including the United Kingdom, Norway, Iceland and Switzerland, Tesla registered 1,619 new vehicles in January, accounting for only 3.5% of the pure electric vehicle market, which is less than the 1,977 vehicles and more than 5% of the market in the same month last year. The market share is more than 5%.
Schmidt noted that January is a “traditionally slow month” for Tesla, and he said the company’s deliveries in Europe will peak by the end of each quarter. However, Schmidt said Hyundai and Kia Motors have now surpassed Tesla as Europe’s third-largest EV group with rolling deliveries over the past 12 months.
Tesla sold more than 109,000 vehicles in Europe in 2019, easily becoming the region’s EV sales leader with a 31 percent market share at that point. However, other carmakers reversed this situation last year, and today Tesla is behind Fuchs Group (VW) and the Renault-Nissan-Mitsubishi Alliance in Europe’s EV market.
Tesla’s sales in the European market last year fell about 10 percent to nearly 98,000 vehicles, with a market share of just 13 percent in the region.
Schmidt said that as the EU sets carbon emission targets, violators will face huge fines, thus accelerating the pace of European car manufacturers to impact Tesla’s position.
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