Black March for Tesla in Europe, with Model Y and Model 3 in sharp decline.
Even in Europe the hybrid wins: the sale of electric cars stagnates (-11% in March), while registrations of hybrids soar: +18% in the first quarter.
Electricity is also declining in Europe: the German reversal on bonuses weighs heavily. Tesla’s splash
2024 is off to a bad start for electric cars. Two big markets like Germany and Italy they are suffering, the first due to the cancellation of incentives, the second due to waiting for bonuses announced but never entered into force. The result is that in March sales dropped back below 200 thousand, to be precise 196.045. AND Teslawhile maintaining first and second place in EV sales, suffered an even more pronounced decline: -42% for the Model Y at altitude 26,847, -13% for the Model 3 to 11,758. A fall that also reduced Tesla’s overall share in the electric vehicle market: from 27.8% in March 2023 to 19.9% last month. Excellent performance Volvo, than with the new one EX30 earns third place with 7,598 cars sold. Bad instead Volkswagen And Fiat: the first has only one model in the top ten, with the ID.4 in 7th place with 4,987 registrations (-35%). While the 500e it even leaves the ranking of the 10 best-selling, after having remained in the top positions for a long time.
Hybrids are 27% cheaper than EVs. “And you don’t have to reload”
Instead, it’s time for hybrids, a market trend that has had to take note Tesla too in the latest quarterly report. We are at 382,700 units registered between January and March, with an increase by 18% compared to the same quarter of 2023.”Consumers are familiar with hybrid vehicles. They have been on the market for more than two decades now. For many drivers, they are now the best option: cheaper of electric vehicles at the time of purchase. And they don’t depend on charging infrastructure public, which are simply not present in many markets“, explains Felipe Munoz, analyst at JATO Dynamics. “Hybrids have the advantage over electric vehicles in that they recharge themselves, while they cost on average 27% less compared to an electric model. Why should you pay more for a vehicle that is more limited in terms of range and charging?“. As a consolation for the electric cars, the fact remains that (despite the decline) the Tesla Model Y in March it was still the car best-selling in Europe ever.
