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If you’ve been following our monthly EV sales reports (we publish a bunch of them), you probably know that the Tesla Model 3 is by far the best-selling EV in Europe. However, reading the European electric vehicle sales market is a bit like trying to read your future with tea leaves. The problem is, registrations aren’t actually sales. Some people buy an electric vehicle model but have to wait a long time for it to be delivered. Of course, knowing that this is the case for a model will also kill sales, because most people aren’t cool to wait a year for a car.
Needless to say, Tesla isn’t the only brand to have had supply issues that didn’t match demand. In fact, if you just look at how much electric vehicle sales jumped in Europe in 2020 and 2021 once car manufacturers were strength to start delivering them in larger volumes, you can get a feel for the volume of sales and records held up by a lack of adequate supply (and a lack of serious sales efforts).
While registrations and market share of electric vehicles have skyrocketed in Europe (reaching 19% last month!), We have seen Tesla’s “share” of the electric vehicle market plummet. Again, the main reason is that other car manufacturers are in the middle of trying now. (Thanks, EU!) Some people who intend to try to smear Tesla’s image and future have been obsessed with the theory that this is the beginning of the end for Tesla – that, as As the electric vehicle market grows, Tesla’s share drops, until the company actually starts to shrink and dies. This is not a new theory – it has been around for years – but it has recently come to life due to these market changes in Europe.
Long story short, the quote from Tesla that is in the headline caught my attention while reading Tesla’s letter to shareholders in Q2 (ironically, on a flight from Europe to the United States) because it refutes enough strongly the anti-Tesla talking points referenced above. . “European demand remains well above supply” tells us that consumer demand is still strong in Europe – very strong – and Tesla’s global production limitations have resulted in much less “sales” (i.e. – say of recordings) in Europe than consumers would like. Elsewhere in the report, Tesla writes, “Given strong US demand, the majority of all Model 3 / Y production has been delivered in North America. Europe produced Tesla vehicles in China as the production capacity of the Shanghai gigafactory increased, but this is apparently still not enough.
What is the real level of Tesla’s quarterly demand in Europe right now? Who knows? What about once Tesla ramps up production further, once the company brings Giga Berlin online with “German-made” Tesla cars for sale, once again people will get to know Tesla and its vehicles? Who knows?
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