Tesla and MG electric cars outpace sales of all other brands in Europe
By ForGeeks As interest in electric cars grows in Europe, Tesla and MG are pulling ahead, while traditional automakers are trying to catch up. According to new data from JATO Dynamics, electric cars accounted for 22% of new car registrations in Europe in April. That figure is just slightly short of the 25% mark set in December 2022, indicating a growing consumer focus on electric vehicles (EVs).
The Tesla Model Y has sold more than 190,000 units in Europe alone.
Tesla is at the forefront of this seismic change. In August 2023 alone, the company registered 33,809 vehicles in Europe, up 240% from the same month last year. Remarkably, the company has surpassed established European automakers such as Opel and Citroën in this figure, and is closing in on Ford. Tesla’s success in Europe primarily depends on two models: the Model Y and Model 3. In particular, Model Y sales totaled more than 169,000 units, and it is projected to continue to lead the European market throughout the year.
But Tesla —s not the only company changing the rules of the game. Enter MG, a brand originally British but now owned by the Chinese, which is rapidly gaining momentum. In August, MG entered the European top 20, selling almost 14,900 units, with 59% of sales coming from electric models. This sales volume puts MG ahead of established brands such as Audi, Skoda and Peugeot in the electric car segment.
While Tesla and MG are rising up the ranks, traditional brands are feeling the pinch. Established brands such as Volkswagen, Ford and Hyundai are feeling their market share shrink. Tesla’s price-cutting strategy is appealing to a broader consumer base, and MG is effectively competing with its budget electric cars. As a result, the traditional automakers are caught between Tesla’s aggressive pricing and MG’s favorable offerings.
That’s why the traditional automakers are being squeezed between Tesla’s aggressive pricing and MG’s favorable offerings.
