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Tesla's end of year hiccups prevent larger scalp, as its Q4 global volumes just fail to match Audi's

Updated: Jan 11, 2023

Key points:

  • Tesla fails by just 15,000 units to match Audi's global quarterly delivery volumes for the first time

  • During 2022 Tesla finished the year 0.3 million units behind VW Group's premium Audi brand, while still remaining 0.79 million units behind BMW (without MINI and Rolls-Royce) and 0.73 million units behind Mercedes-Benz Passenger Cars (without Smart).

  • Global 2022 volumes: BMW-brand: 2,100,692 Mercedes Benz Passenger Cars: 2,043,900 Audi: 1,614,231 Tesla: 1,313,851 OEM data.

Tesla's fast-passed expansion is likely to ease from 2023 onwards with increased market competition in China, while large amounts of its European volumes were likely brought forward into 2022 as subsides were reduced in key markets such as Germany from 2023 and cut entirely in Sweden and the UK with a subsequent lag impact. However US volumes are likely to increase into 2023/24 as the US government implements for legislation to increase BEV uptake in this major laggard market. Tesla is also limited in a reduced model line-up (currently just four models), while incumbents are able to leverage volumes across many models, brands and segments. Tesla's growth ambitions may becoming limited, left with little uncharted major market growth potential as witnessed by the other premium OEM brands that have seen their global premium brand volumes saturate at around two million units per year. However Tesla's eventual Cybertruck market launch would give it the ability to leverage a large North American segment which the other premium OEMs don't have a market presence in. From 2024 we expect German premium OEMs to begin their genuine BEV model ramp-up with VW Group's premium PPE platform expected to arrive with both Porsche and Audi models based on this while BMW will begin to introduce its electrically-dedicated Neue Klasse architecture from 2025 which will encroach on Tesla's current positioning.

More in-depth reporting in the full study published each month. The study now also features an in-depth look at the Chinese OEMs as their European expansion slowly begins. Are Chinese OEMs really a threat to the established European OEMs and what does the outlook look like?


May also interest you: European Electric Car Market 11-months 2022: Final months of 2022 see the perfect storm to see Europe's BEV market record a fast paced finish click here for the story

Toyota Prius 2023 MY charging PHEV


*Western Europe 18 Markets: EU Member States prior to the 2004 enlargement plus EFTA markets Norway, Switzerland, Iceland, plus UK


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