One Million Teslas in Europe!

Tesla has just sold its one millionth vehicle in Europe, while the Model Y continues to proudly lead sales.

It took Tesla only 14 years to reach the million cars sold mark in Europe since the sale of the first Tesla Roadster. Against all odds, the American manufacturer is leading its aggressive push on the Old Continent. This momentum shows no signs of slowing, strongly driven by its undisputed star, the Model Y.

The first Tesla sold on European shores was the first-generation Roadster, and although it was based on a Lotus, it proved that electric vehicles could be cool and fun to drive. Tesla then became known for the luxury sedan Model S and the large SUV Model X before sales really took off with the European launches of the Model 3 and Model Y. Today, it is this Model Y that dominates the electric market.

2023 can be considered the year of the Tesla Model Y, which has been the best-selling new vehicle in Europe for six consecutive months. According to data shared by the manufacturer, 27,000 Model Y units were sold in September, giving it a comfortable lead over the Peugeot 208 with 21,000 units sold, and the Renault Clio with just under 20,000 units.

However, not everything is rosy globally for the manufacturer. Two main issues are mainly criticized about Tesla: the decline in sales in the third quarter of 2023 worldwide (435,059 cars sold versus 466,000 in the second quarter), and especially a collapse in its operating margin. It dropped from 17.2% in 2022 to 7.6% in 2023. This is well below the 13% of the Stellantis group, and even below that of the Renault group (around 8%).

Finally, what about the prospects of a European market where, gradually, the eco-bonus may no longer apply to the Model 3 in 2024 because it is produced in China. The Model Y, on the other hand, is manufactured in Germany, near Berlin.

The faster to the top, the harder the fall, but Elon Musk has proven to have resilience.