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Tesla’s EV market share in Europe halved in Q2 2022

Tesla announced its second quarter 2022 financial report on July 21. The financial report showed that Tesla Motors’ second-quarter revenue was $16.934 billion, compared with $11.958 billion in the same period last year. A 42% increase from the previous year; net profit was $2.269 billion, compared to $1.178 billion in the same period last year.

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In the second quarter earnings report, Tesla performed well overall. However, the financial report did not explain the performance of each region one by one. According to a report by Seeking Alpha yesterday, Tesla’s second-quarter performance in the European market was not good, or even worse.

Statistics show that Tesla’s electric vehicle market share in Europe in 2019 was 20%. But it has been declining since then. In the second quarter of 2022, Tesla’s market share was only 5%, down more than 50% from 11% in the previous quarter. Since Tesla does not produce plug-in hybrid models, it also counts the market share of pure electric vehicles (BEVs). Data shows that Tesla’s pure electric vehicle market share in Europe in the second quarter of 2022 is 8%, which is also down more than 50% from 18% in the previous quarter.

With the decline in market share, Tesla’s sales in Europe in the second quarter are also not optimistic. The data shows that Tesla’s sales in Europe in the second quarter were 26,154 vehicles. Compared with the sales of 59,502 vehicles in the previous quarter, Tesla’s European sales in the second quarter were directly halved, with a decline of 56%.

It is worth mentioning that Tesla’s German factory was officially put into operation on March 22, 2022. If the factory is not established, Tesla’s performance in the European market may be even worse.

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