Tesla continues to haemorrhage large losses in Europe
- Matthias Schmidt
- 12 minutes ago
- 1 min read
Tesla continues to be one of the biggest losers across Western Europe's new BEV car market, according to the latest research from Schmidt Automotive Research
While Volkswagen Group became the first OEM to achieve over 0.5 million new pure electric passenger car registrations during a 12-month period across the 18 market region, Tesla continued to haemorrhage large losses seeing its share of the region's market half from 18.9% during the opening quarter of 2024 to just 9.2% during the same period this year.
Those losses were partly attributed to a model refresh for the region's most registered BEV model, Model Y, albeit with volumes falling by just under half over the same period last year, but also likely due to the CEO's openly political positioning. Large fleet operators have also been shying away from the brand following instability when it comes to market resale prices (residuals), having to harbour the risk.
All of that enabled BMW Group to move past the US company on a quarterly basis, achieving a double-digit share of the market, gaining 1.6ppts y/y while Tesla remained in single-digit territory, seeing an almost 10ppt market share loss y/y.
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Source: Schmidt Automotive ResearchÂ
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*Western Europe 18 Markets: EU Member States prior to the 2004 enlargement plus EFTA markets Norway, Switzerland, Iceland, plus UK