Model Y Takes Top Spot In Europe in September

tesla model y

We reported recently that the Tesla Model Y was the best seller in Germany during September and the number two seller in the UK in September it’s not a huge surprise to expect a solid Europe wide result.

With Giga Berlin ramping production as Musk has mentioned in the last earning call the number of Model Y leaving the plant keeps growing and we assume they are purely for the local market.

Data from Jato Dynamics shows Tesla selling 29,400 cars in September. The overall market grew to 3.5% from August to just over 1,000,000 units. However, sales are still way down YonY. Year-to-date, volume decreased by almost 10% to 8,182,818 units, while registrations were 3.6% lower than January to September 2020, and 32% lower than the 12 million units registered during the first 9 months of 2019.

EVs continues to gain market share

Europe’s largest markets continued to show positive results. Germany led the way accounting for 27% of the total European demand – an increase in volume of 29%. The UK followed with volume up by 16% and a 24% market share. In third place was France with 14% of the market and an increase in volume of 32%. In September, these three markets combined totalled 60% of the European BEV demand, while Norway and Italy saw decreases of 17% and 42%.

In September, Tesla performed particularly well – a trend we have seen during the last month of each quarter – accounting for just over one in four of the BEVs registered in Europe. With the Model Y being produced in Germany, Tesla was able to offset the 50% decrease posted by the Model 3. The midsize car continued to struggle, mostly due to a lack of stock coming from China, and the increasing popularity of its SUV counterpart. Compared with Q3 2021, Tesla saw a volume increase of 17%, almost double the volume of Q3 2020, and 77% higher than Q3 2019.

Excluding Tesla, MG was among the top 10 brands with highest percentage of BEVs as part of total registrations at 42%. In second place, Renault followed with 18%.

The volume of plug-in hybrid electric vehicles (PHEV) increased by 7% compared to September 2021with 87,712 registered units.

Model Y ramps

As observed in both China and the US, the Tesla Model Y is now outselling the Model 3 in Europe – the world’s best-selling BEV in 2021. With 29,367 registered units, up by a staggering 227%, the Model Y accounted for almost 3 in every 100 new cars registered in Europe last month, marking the first time that the SUV has led the European ranking. In Germany, the Model Y outsold the Volkswagen Golf to lead the overall ranking, and of the 27 markets, it was the best-selling BEV in other 14 markets.

Top Dollar

It is one thing to look at sales units but another to look at value. As we have said a number of times the value of Tesla sales is staggering and must give other manufactures securing nightmares.

If we compare the 30,000 Model Y with the second best seller the Peugeot 208 in terms of revenue:

Tesla 30,000 * say £55.000 gives monthly revenue of £1.6 Billion

Peugeot 20,000 * say £25,000 gives half a Billion.

And

Model 3 giving another 12,000 * £50,000 or £600 million.

Or in other words Tesla is taking the lions share of the revenue of the European table. This is a staggering change to the EC market is a short time. We question how the big players; Peugeot, VW and Fiat can compete when they are left to fight for the crumbs.

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