How Elon Musk Responded To Volkswagen's ID.3 Outselling Model 3 In Germany

Germany is emerging as a key battleground for global electric vehicle makers in Europe, given the big EV push of domestic legacy automakers. The market share of plug-in vehicles, as well as sales, reportedly improved notably in Germany in August.

What Happened: August registrations of plug-in vehicles, comprising both battery EVs and plug-in hybrid EVs, came in at 53,000 in Germany, CleanTechnica reported.

Battery EV registrations rose 80% year-over-year compared to 43% growth for PHEVs.

Volkswagen AG VWAGY's ID.3 was the bestseller in Germany in August, with registrations of 3,750 units. Tesla, Inc.'s TSLA Model 3 sedan took the second spot with 2,946 vehicles.

Nevertheless, the Tesla Model 3 had its best off-peak month ever, the report said. The strong showings by the ID.3 hatchback and the Model 3 sedan in one of the slowest months of the year points toward intensifying rivalry between the two for the rest of the year, Clean Technica said.

In response to a tweet of the Clean Technica article, Musk said "September will be interesting."

Related Link: Move Over Tesla? Volkswagen Says It's Out To Become Global Leader In EVs

Why It's Important: A recent report from market research firm Canalys showed that Tesla's global EV market share slipped from 16% in 2020 to 15% in the first half of 2021, while at the same time Volkswagen vastly improved its share from 3.7% in 2019 to 13% in 2020.

Nimble Chinese startups such as Nio, Inc. NIO are also looking to expand into Germany.

Musk's tweet could be construed as suggesting Tesla will make a stronger comeback in Germany. The opening of the long-delayed Giga Berlin could be the catalyst that could reinvigorate the EV maker's sales in the country.

Photo: the Volkswagen ID.3. 

Market News and Data brought to you by Benzinga APIs
Posted In: NewsEurozoneRetail SalesMarketsMediaelectric vehiclesGermany
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...