Tesla Is No Longer Top EV Brand in Europe According to Latest Market Data
By Israel Monte
Sep 15, 2024 08:26 PM EDT
JATO Dynamics shared that August was a tough patch for Tesla's markets in Europe, as sales fell by half in France and two-thirds in Germany.
JATO revealed that BMW had sold almost 14,900 battery-powered vehicles within the month, more than Tesla's Model Y. The company was replaced by BMW as the leading EV brand due to the demand for its iX2 compact crossover, according to Fortune on Saturday
The outlet shared that Europe's car market is usually categorized based on vehicle size. This ranges from minicars to subcompacts. Steven van Arsdale, PwC analyst and an owner of a Model Y vehicle, shared that Europe's B and C-segment streamline didn't match with Tesla's large D-segment vehicles.
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Arsdale added that there's a weakness in the armor of Tesla's vehicles and that Tesla should release smaller cars that are practical for Europe's cramped spaces and roads.
Germany-based EV industry analyst Matthias Schmidt said that CEO Elon Musk has realized that the company requires various models in different segments and that Tesla's spread of its current range didn't quite work out.
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