By Michael Elkins
Electric vehicle maker, Tesla (NASDAQ:TSLA) continues to be the best-selling BEV in Germany after reporting September numbers showing that the company sold almost 14k units in the country, over 6% market share. While Tesla has long been the best-selling BEV in Germany, in September it was the best-selling car, considering all powertrains – overtaking local best-selling models from legacy German OEMs.
The impressive month was driven by sales of Tesla’s Model Y and Model 3, which sold over 9k and 3.5k units respectively. Having sold almost 40k units year-to-date in Germany, reports suggest that the EV manufacturer is aiming for 80,000-unit sales in the country by the end of 2022. At the September run-rate, with Berlin production rising, Morgan Stanley believes Tesla could still hit its FY22 German sales targets.
Morgan Stanley analysts wrote in a note, “The German best-selling model was a position long dominated by the VW Golf. This change in consumer preference marks a watershed both for Tesla, and for BEVs in general. Tesla was also the best-seller within two different categories: in mid-size, the previous best-seller was consistently the VW Passat – now the Model 3. In SUVs, the VW T-Roc has been displaced by the Model Y.”
Germany is the largest BEV market in Europe. Morgan Stanley’s EV model data shows the top-selling EV models in Europe as of July were the Tesla Model Y, Tesla Model 3, Fiat 500, VW ID4, Peugeot e-208, and Skoda Enyaq.
Shares of TSLA are up 0.69% in pre-market trading on Wednesday.