Tesla suffered a setback in Europe, with a decline in market share of over 20%

 Tesla lost its leading position in Europe.

According to foreign media INSIDEEVs, industry analyst Matthias Schmidt said that Tesla now has a 13.5% market share in Western Europe, compared to 33.8% in the third quarter of 2019, a drop of more than 20%.

In the third quarter, a total of three automobile groups sold more electric vehicles than Tesla, including Volkswagen Group, Renault-Nissan-Mitsubishi Alliance and Hyundai Motor Group.

Unlike Tesla’s single brand, other auto groups have multiple electric vehicle brands for consumers to choose from. On the one hand, in order to meet the European carbon dioxide emission regulations, traditional car companies have to increase sales of pure electric vehicles; on the other hand, traditional car manufacturers also hope to take advantage of the preferential measures provided by governments of various countries.

The decline in Tesla sales is also related to the weakening of demand for Model S / Model X. Tesla currently mainly relies on Model 3 to increase sales. This year's epidemic has also affected its supply chain.

However, with the export of the domestic Model 3 to Europe and Tesla's outstanding performance in the Chinese market, Tesla's sales are expected to grow further this year, breaking its sales record of 110,000 vehicles set in 2019. In the future, with the completion of the German factory and the heavy volume of Model Y, Tesla's situation in the European market may improve.

When Tesla is frustrated in Europe, domestic new energy vehicle manufacturers are being sought after. Currently, BYD, Weilai, Ideal, and Xiaopeng Motors are narrowing the market value gap with Tesla . On November 5th, U.S. stocks closed, Ideal Motors rose 10.98%, the cumulative increase since its listing reached 144.26%; Weilai Motors rose 12.30%, with a year-on-year increase of 953%, and its market value has surpassed BMW Motors; Xiaopeng Motors rose 30.89% this week In four trading days, Xiaopeng Auto's share price nearly doubled.

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