The Tesla Model Y has been a top seller in Europe this year, even against a backdrop of increasing competition in the electric vehicle space.
has been a top seller in Europe this year, even against a backdrop of increasing competition in the electric vehicle space. The competition will continue to chip away at Tesla’s impressive market share in the coming years, but it’s got an impressive head start in Europe, as led by its flagship electric SUV.Tesla launched the Model Y just last year in European countries, and the vehicle topped European sales of both electric vehiclesThe victory has added significance for the U.S.
Although Tesla now has a Gigafactory in Brandenburg, Germany, many of the automaker’s European deliveries thus far have come from its Shanghai plant as the Grünheide location has been ramping up production. Tesla’s aim toward globalizing production has allowed it to put pressure on European auto giants amidst a shift to EVs.
“A big part of the growth posted by any car brand comes from its ability to bring new cars to the market,” JATO analyst Felipe Munoz said. “The last time Tesla introduced an all-new model was in January 2020 when the Model Y production started in the U.S. So, during almost three years, the brand has not come up with anything really new. The focus instead has been on opening new factories around the world to supply the local demand.”to the market next year.
“Tesla’s CEO recently confirmed the company is working on a next-gen platform for smaller electric cars. This new platform’s main focus would be on halving costs and achieving volumes higher than all other models combined,” UBS said in a recent note.
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