All new car sales have plummeted in Germany, except for EVs.
Tesla held an 18.4% market share in 2019; it’s now down to 8.7%.
Competition from major automakers is putting the hurt on Tesla.
The floodgates are opening up in Europe – many new EVs have become available in the last few months and Tesla’s market share is quickly shrinking. Electric vehicles from Volkswagen, Renault and Hyundai have outsold the once seemingly-untouchable Tesla EV machine.
Germany may not be entirely representative of other world markets, however. In the last few months, Germany and Musk’s Tesla have been at odds with each other on a few occasions. One such incident was a German court banning Tesla from using some advertising material in relation to its Autopilot technology.
Even so, the numbers, shared by wolfstreet.com, speak volumes about Tesla’s competition. The home team, the Volkswagen Group, has annihilated everyone with more than 100% more new registrations so far this year compared to the next closest carmaker, Renault. In the third spot, we find Hyundai and Tesla drops into fourth position. If we concentrate solely on brands, Volkswagen still crushes everyone. In July alone, more than 20 times more Volkswagen EVs were sold than Teslas (4,102 vs. 203).
We think this phenomenon will not repeat itself in the US and Canada even when EVs from Volkswagen, Ford, and others hit the road later this year and next. Tesla’s fanbase is enormous in North America.