Tech

Tesla sees its market share decline in the first half of 2022

Tesla lost market share in Europe during the first half of 2022. Figures at half mast due in particular to the difficulties encountered by the brand on its production lines due to the pandemic and the shortage of electronic components.

Credits: Tesla

Like many car manufacturers, Tesla has not escaped the difficulties caused by the pandemic on the one hand, but also by the shortage of electronic components which has been raging for several months now.

We remember that the brand was forced in May 2022 to drastically reduce production at the Shanghai site due to the resumption of the Covid-19 epidemic in China. The rate had dropped to only 200 vehicles per month, to 1200 currently.

However, we learn thanks to recent figures shared by JATO Dynamics that these complications on the production lines cost Tesla some market share in Europe during the first half of 2022. Indeed and despite registrations up sharply in the first quarter of 2022 , its growth remained below that of the overall market.

ALSO READ: Tesla Delays Model X Deliveries Again Due To Production Issues

Tesla loses market share in Europe, a first

The Californian company saw its EV market share in Europe drop to 13.33% in the first half of 2022compared to 13.75% in the same period in 2021. This loss of 0.42 point therefore places Tesla in third position among manufacturers who have lost the most market share over this period, just behind the Volkswagen group (5.7 points) and the Nissan group (1.4 points). We also note a massive drop in Model 3 registrations of 76% in June 2022, which is nevertheless one of the most important months in terms of volume.

Of course, the concerns encountered at Tesla’s factories alone do not justify this decline in the European market. The world leader in electric cars must now deal with more and more competitors. The BMW group in particular is experiencing exponential growth in this segment, with a market share increasing from 5.76% in the first half of 2021 to 8.37% over the same period in 2022.

The Hyundai-Kia group has also made a name for itself in the hearts of European consumers, as evidenced by the good results of the Hyundai Ioniq 5 and Kia EV6, without forgetting the Hyundai Kono and Kia Niro. The Stellantis group has also established itself on the European market with the electric Fiat 500, which took the number one spot in sales in France and several European countries in May 2022.

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