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Tesla loses ground in European battery EV market
Mar. 01, 2021 3:41 PM ETTesla, Inc. (TSLA)By: Liz Kiesche, SA News Editor235 Comments
Tesla's (TSLA +5.8%) share of the European electric vehicle market deteriorated further in the first month of 2021, after losing market share in 2020, according to automotive analyst Matthias Schmidt.
The U.S. electric car maker delivered 1,619 battery-powered vehicles to 18 key European markets in January, representing a 3.5% share of all battery EVs registered that month, Schmidt said. That's down from the 1,977 vehicles it delivered in January 2020, which at the time commanded a 5% market share.
Tesla's 12-month rolling volumes have fallen behind Hyundai (OTCPK:HYMTF +3.7%) and Kia, which are now the third most-popular EV group in Europe.
In 2019, Tesla sat at the top of European EV charts, delivering 109K vehicles that year, or 31% of the region's battery-EV market. In 2020, Tesla fell to 13% of the European market, falling behind Volkswagen Group (OTCPK:VWAGY +0.3%), and the alliance between Renault (OTC:RNSDF +0.2%), Nissan (OTCPK:NSANY +1.3%), and Mitsubishi (OTCPK:MSBHF -0.5%).
China, meanwhile, has become the world's largest market for electric vehicles , with 179K battery electric and plug-in hybrid vehicles registered there in January vs. 110K in Europe.
Other EV companies: (NIO +8.9%), XPeng (XPEV +4.0%), Byd Company (OTCPK:BYDDF +10.8%), Stellantis (STLA +3.0%), Daimler (OTCPK:DDAIF +0.3%) and BMW (OTCPK:BMWYY +0.7%).