Europe: Tesla Almost Didn’t Sell Any Cars in September-October

The European market, where competition among premium brands is fierce, is ruthless, and the new Tesla Model Y is urgently awaited.

It’s hard to understand: Tesla is it a reasoned purchase or driven by passion? We would opt for the first choice given the relevance of its products, which should spare it from promotional contingencies or product line renewal issues. But the reality is striking: the closer the date of a modernization of the Model Y, the more sales stagnate—and in quite alarming proportions.

Thus, the compiled sales data of Tesla in Europe since the beginning of the year clearly shows the effect of promotions on commercial activity. The first three months of the year were thunderous with the renewal of the Tesla Model 3, with a momentum even greater than in 2023, when 330,000 cars were sold over the year.

But since May, the gap has continued to widen. The establishment of new tariffs with China severely hindered the Model 3, and only the arrival of the Model Y Long Range Rear-Wheel Drive provided a boost. Part of the gap compared to 2023 was closed in August with very aggressive discounts, which were interrupted in September… before resuming at the beginning of November.

BMW as the primary rival?

Consequently, it is noted that when Tesla does not discount its cars, they hardly sell at all. According to the graph, Tesla would have sold only 5,000 cars in Europe between September and October. Pro-Tesla experts will say that sales are only reported quarterly by Tesla, but that is incorrect, especially since financial markets no longer have the patience to wait for new data every three months. Tesla’s sales are seasonal and linked to promotions and product plans.

Today, everyone is waiting for the new Tesla Model Y modernization and is therefore postponing their purchase. Tesla customers want the latest model, just like with an iPhone. So far, Tesla has sold 85,000 fewer cars in Europe in 2024 compared to 2023, and given the sales momentum in the last quarter of last year, this gap is expected to exceed 100,000 units by December 31, 2024. Very bad news for Tesla, which is losing customers to premium competitors, especially BMW, which is becoming increasingly serious. Because, for now, in Europe, it cannot be said that the competition comes from Chinese low-cost brands…

ALSO READ: Is Tesla still an American manufacturer or truly Chinese?