leadf
logo-loader
viewTesla Inc
(
NASDAQ:TSLA
)

Electric vehicles reach double-digit market share in Europe

Battery EV sales across Europe's top five markets rose 67% in August to a market share of 11%, reaching double digits for the first time

Deutsche Bank -

Electric car sales for Tesla Inc (NASDAQ:TSLA), Volkswagen and rivals expanded at double-digit rates in Europe over the summer, with battery electric vehicles now up to an 11% share of the market last month.  

Overall Western European car registrations fell 21% in August, according to calculations by Deutsche Bank (NYSE:DB) of recent sales data. Sales are well below 2019 levels, though registrations of battery electric vehicles (BEVs) and plug-in hybrid EVs grew at double-digit percentages.

Across Europe's top five markets, BEV sales rose 67% in August to a market share of 11%, reaching double digits for the first time.

Plug-in hybrid registrations grew 52% in August but remain in single digits, with a market share of 9%.

Market share of the automotive original equipment manufacturers (OEMs) in Germany remained largely unchanged in August, Deutsche Bank (NYSE:DB)'s analysts noted, "as all carmakers continue to run electrified models in their prioritized portfolios in order to reach CO2 compliance".

Volkswagen continues to outsell its domestic peers and to defend its high market share.

While the shortage in the semi (articulated lorries) market is clearly weighing on overall volumes, Deutsche said, the analysts expect the momentum of electrified units "to remain better than the overall market in coming months due to pressure to meet emission targets".

However, the comparison against last year becomes much tougher from September, which is predicted to weigh on relative growth.

Quick facts: Tesla Inc

Follow
NASDAQ:TSLA

Price: 730.17 USD

Market Cap: $731.46 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Altiplano Metals receives exploitation permit at Maria Luisa which allows...

Altiplano Metals CEO Alastair McIntyre joined Steve Darling from Proactive to share news the company has announced the Chilean mining authority has approved their exploitation license on the Maria Luisa project is located in Chile. McIntyre telling Proactive this now allows the company to...

2 hours, 14 minutes ago

2 min read