Is Tesla Model 3 taking over Europe?

Tesla Model 3 takes over Europe (electrek)

·         While it has only been a month since Tesla started Model 3 deliveries in Europe, the early indications are that they are rapidly taking market share.

·         For instance, in the first week of March the Model 3 outsold (by 3x) their competitors in Norway (the most EV positive market in Europe).

·         It is forecast that as more shipments arrive and as cheaper variants of the car start to get delivered, sales should accelerate further.

Analysis and Comments

·         At one level I am not surprised by the success of the Model 3, there has been pent up demand for some time after all.

·         It will be interesting to see if this momentum can be maintained over the coming months, something .

·         For some time that the European OEMs have been dragging their feet on EV production, with limited availability.

·         If Tesla is able to grab material market share, even with imported vehicles, this strategy may turn out to be an expensive mistake.

Tesla’s Stock Price

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