E-car sector in transition - Tesla slips further
VW doubles e-car deliveries
Tesla $TSLA (-1.89%)slips further - VW on the upswing
- The US electric car manufacturer Tesla is still unable to capitalize on the upswing in the European electric car market.
- In April, the company of controversial CEO Elon Musk suffered another severe setback.
- Once again, new registrations in the European Union plummeted, this time by more than half, according to data from the European manufacturers' association Acea.
- After the first four months of the year, Tesla had to cope with a drop of a good 46 percent to just 41,677 cars.
- Although the EU car market as a whole has been treading water so far this year, the electric car market in particular is picking up strongly again after last year's weakness.
- In the first four months of the year, 15.3% of new registrations in the EU were battery-powered cars, compared to just 12% a year earlier.
- In terms of units, growth amounted to over a quarter.
VW $VOW (-0.96%)doubles e-car deliveries
- Tesla is coming under increasing pressure in a market for which the controversial entrepreneur Musk has set up his so-called gigafactory in Grünheide, just outside Berlin, and invested billions in.
- Not only is Volkswagen now getting up to speed with its electric cars and is miles ahead of Tesla - the Wolfsburg-based company more than doubled its deliveries of purely electric vehicles in Europe in the first quarter.
- The Chinese electric world market leader BYD ("Build Your Dreams") is also breathing down Musk's neck - what's more, it has now overtaken him in Europe in terms of pure electric drives (BEV - battery electric vehicles).
- According to data from market researchers at Jato Dynamics, this was the case for the first time in April.
BYD $1211 (+0.78%)from China overtakes Tesla
- In Jato's figures - which cover 28 countries instead of just the EU - BYD came in a hair's breadth ahead of Tesla with 7,231 cars in April.
- Despite the small lead, Jato analyst Felipe Munoz spoke of a "turning point" for the European car market, especially as Tesla has been leading the market for years and BYD only really got going late.
- BYD is currently relying heavily on dealers' own registrations and sales to car rental companies, as data from the Federal Motor Transport Authority shows for Germany, the largest car market in the EU.
- In the first four months, only just under twelve percent of the 2,791 newly registered BYD models in Germany went to private owners.
- It is true that sales to companies in Germany generally account for the lion's share of registrations for other car manufacturers too.
- However, the proportion of private buyers at BYD is very low: Mercedes, for example, accounts for almost 37 percent and the VW Passenger Cars brand for around 26 percent.
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