Elon Musk is in luck. The Tesla Model Y has become the best-selling car in Europe in the first quarter of the year. According to data collected by the consultancy Jato Dynamics, during the first three months of 2023 a total of 71,683 units were delivered, that is, 173% more than during the same period of the previous year, when it was ranked 31st.
It is worth noting the importance of this information because it means that this SUV has not only led the sales of electric vehicles but has also gone ahead of the rest of the models that equip internal combustion engines. This is another milestone for Tesla, whose Model 3 has already become the first best-selling 100% electric car in a month in Europe. Specifically, it happened in September 2021.
According to Jato data in 27 European markets, the Model Y was the most registered new passenger car in March and the first quarter of 2023. Musk's firm surpassed such popular models as the Dacia Sandero low-cost car (60,202 units), the German SUV Volkswagen T-Roc (54,960 units) and the popular Peugeot 208 (53,336 units).
“Increased production coupled with fewer supply chain issues allowed Tesla to finally deliver vehicles to customers at a good pace. The Model Y will probably be among the five best-selling products in Europe by the end of this year," predicted analyst Felipe Muñoz from the consulting firm.
However, victory is nuanced for Tesla. The success of the Model, a fully electric SUV, came at the expense of the Model 3, which had worse data: 42% less in March and 40% during the first quarter of 2023.
The Model Y has also improved its data thanks to the popularity of SUVs, because sport utility vehicles are the favorites of new buyers.
The Tesla model has benefited from the pull of the electric ones. According to Jato Dynamics, the number of new car registrations in Europe increased by 26% in March and 17% in the first quarter of 2023, the highest level since 2019.
“The increase in registrations is largely explained by orders from previous months that could not be delivered due to lack of components at that time. We will be attentive to see how this growth is affected by higher inflationary pressure in the coming months”, points out Muñoz.
In particular, pure electric cars (BEVs) did well. More than half of first-quarter registrations were BEVs, with volume up 43% in March.
Tesla volume totaled 28% of all BEV registrations in March and 22% for the first quarter. Volkswagen Group trailed just 2,400 units behind Musk's firm in the first quarter, with total BEV volume rising 57%.
