Tesla sales continue downwards trend in Europe

[FastLaneJB]

@UkNorthampton In another thread you was constantly going on how the EV market is growing in this country from fleet sales making up for the drop in private sales. So the EV market in the UK has grown, so Tesla's sales numbers should also be growing, not dropping if they were maintaining their share of the market.

Fleet is probably turning away from them for the same reason Hertz did, there's no guarantee of price stability and more dependable residuals with Tesla.

Tesla's stock price as others have mentioned depends on massive rapid growth. That's not the case and it's not from a lack of increased EV sales overall, it's from increased competition and cheaper cars from the Chinese also. This is why Elon doesn't care about the cars much anymore, he's many things but I don't think for a moment he's stupid. He's seen he's already lost the fight with cars and while I'm not saying they'll go out of the market, they cannot keep their stock price from selling EV's. It's absolutely why he cares about FSD and Optimus and cars is now just their large but uninteresting business that generates the cash to fund the work on FSD and Optimus until they are ready.

 

[Jason71]

@UkNorthampton In another thread you was constantly going on how the EV market is growing in this country from fleet sales making up for the drop in private sales. So the EV market in the UK has grown, so Tesla's sales numbers should also be growing, not dropping if they were maintaining their share of the market.

Fleet is probably turning away from them for the same reason Hertz did, there's no guarantee of price stability and more dependable residuals with Tesla.

Tesla's stock price as others have mentioned depends on massive rapid growth. That's not the case and it's not from a lack of increased EV sales overall, it's from increased competition and cheaper cars from the Chinese also. This is why Elon doesn't care about the cars much anymore, he's many things but I don't think for a moment he's stupid. He's seen he's already lost the fight with cars and while I'm not saying they'll go out of the market, they cannot keep their stock price from selling EV's. It's absolutely why he cares about FSD and Optimus and cars is now just their large but uninteresting business that generates the cash to fund the work on FSD and Optimus until they are ready.

And superchargers are the even less interesting thing that supports the uninteresting car sales.

 

[12Pack]

To the points made by @UkNorthampton, while EV and battery efficiency, charging infrastructure etc will certainly bring more into the EV fold, the issue with Idiot Musk is that he is doubling down on moon shot changes and is not prepared to fight the industrial efficiency battle for Tesla cars. Most of the next level of EV buyers are looking for something familiar, not the absence of physical controls etc.

 

[Adopado]

I was getting into my wife's Fiat500e at the side of the road the other day and an old boy rolled past in a huge mobility tricycle ,looked me straight in the eye and said "They're not the future anymore you know" then rolled off.
EV's still need better PR me thinks.

My answer would be "You're quite right, they're not the future ... they're the present!"

 

[NorthYorkEV]

Competition has increased and improved, Tesla have rested on their laurels. Musk is giving the brand bad energy and the dealership experience for many is poor.

Insurance group at 50 (MYLR) doesn't help.

The range in the UK is stagnant and I'm not sure the pipeline is confirmed or realistic

 

[Rooster6655]

Regardless of market share, EV sales were going to have a period of adjustment whilst the used market adjusts for all the new EVs that have and are coming on to the used market.

I think now that the initial flood of new EV sales has gone we will see gradual increases at a slower pace over the next few years but without price reductions from Tesla I don't think their non fleet buyer percentage will increase that much

 

[FastLaneJB]

Regardless of market share, EV sales were going to have a period of adjustment whilst the used market adjusts for all the new EVs that have and are coming on to the used market.

I think now that the initial flood of new EV sales has gone we will see gradual increases at a slower pace over the next few years but without price reductions from Tesla I don't think their non fleet buyer percentage will increase that much

Non fleet is dropping across the board on EV's in this country, fleet is going up as they have to buy new for the tax incentives but with Tesla messing them around on residuals with price drops, they likely prefer other EV's now.

 

[Billbrown1982]

We've had mountains upon mountains of Mach E's stacked up in our site for months now. Every scrap of available land had a Mach-E on it.

They have finally just launched a 0% interest deal to try and shift them.

 

[qwickshot]

Tesla is not the only company cutting prices, if anything Tesla pricing has been more stable than most other brands over the last year.

 

[FastLaneJB]

Tesla is not the only company cutting prices, if anything Tesla pricing has been more stable than most other brands over the last year.

Most other brands have been lowering APR’s to zero, giving finance contributions, etc. to avoid impacting residuals as much.

But yes I think most of them are desperate at the moment to shift EV’s as supply and demand is out of balance.

 

[roadcred]

Most other brands have been lowering APR’s to zero, giving finance contributions, etc. to avoid impacting residuals as much.

But yes I think most of them are desperate at the moment to shift EV’s as supply and demand is out of balance.

Production of European EVs is not sustainable particularly now as the losses per vehicle increase every time they try to shift their backlogs. Tesla continue to lower their costs and make good margins. Only growth in Chinese imports can boost the non Tesla market.

 

[cwerdna]

Article is behind paywall but key for UK:

"In the UK, Tesla registrations fell 25% in April and have slumped 14% in the first four months of the year."

Germany also bad:

"While most brands have struggled with the pullback of incentives in Germany — Europe’s biggest car market — Tesla underperformed peers last month. Overall EV registrations were broadly flat, whereas Tesla’s sales plunged 32%."

https://www.bloomberg.com/news/articles/2024-05-22/tesla-tsla-europe-sales-fall-to-15-month-low-in-slow-start-to-q2

Often, feeding Bloomberg pages to https://archive.is/ can get you a copy to work around their paywall.

https://archive.is/XWN3w is a copy.

 

[qwickshot]

Most other brands have been lowering APR’s to zero, giving finance contributions, etc. to avoid impacting residuals as much.

Which is basically what Tesla has done over the last year.

Other brands are also offering deep discounts that are absolutely harming residuals though. The residuals on a Tesla are actually slightly better than any of it’s competitors last time I checked.

But yes I think most of them are desperate at the moment to shift EV’s as supply and demand is out of balance.

This basically.

 

[Jason71]

Most other brands have been lowering APR’s to zero, giving finance contributions, etc. to avoid impacting residuals as much.

But yes I think most of them are desperate at the moment to shift EV’s as supply and demand is out of balance.

There are also a lot of Pre-registrations out there. I bought a 1month old preregistered Fiat 500e with 10 miles on it for 27% off list.

 

[Utumno]

There are also a lot of Pre-registrations out there. I bought a 1month old preregistered Fiat 500e with 10 miles on it for 27% off list.

From what I can see this isn’t unusual either. Low mileage and delivery mileage vehicles are often at very deep discounts; my Dad picked up a 24 plate e-208 pre-reg runabout last week for a whisker over £18k and he even had choice of colour. 44% discount - bonkers.

The inevitability of a large list price reduction across nearly every brand seems quite clear, with the associated residuals hit and frothing at the mouth at the Daily Heil unavoidable.

 

[SaffaT3sla]

Just for some context, I'm a (mostly) happy owner of a Model Y and previous owner of a Model 3 - and right now I'm fairly confident my next car will be a Tesla BUT I'm currently shopping around for a new car for my wife and I've noticed a few things:

1. While everyone seems to think Teslas are expensive, when you start to compare them against other brands they are incredibly competitive (even cheap) by comparison.

She wants electric and convertible so choices are slim - but when you consider both the mini and the fiat 500 are over £30K, it starts to make the model 3 seem like a lot more car for not much more money

2. I had forgotten how painful it is to buy a car the traditional way. While Tesla after sales are not the best, the joy of being able to buy a car without dealing with car salesman is not to be underrated. It's exhausting just trying to get the actual cost of the car out of them

3. Personally I think the biggest mistake Tesla ever made was opening up the charger network to everyone. It was the one USP no other manufacturer could match and the reason why so many Tesla owners I know, stuck with the brand AND the reason why so many non Tesla owners I know wished they owned a Tesla instead.

 

[FastLaneJB]

Just for some context, I'm a (mostly) happy owner of a Model Y and previous owner of a Model 3 - and right now I'm fairly confident my next car will be a Tesla BUT I'm currently shopping around for a new car for my wife and I've noticed a few things:

1. While everyone seems to think Teslas are expensive, when you start to compare them against other brands they are incredibly competitive (even cheap) by comparison.

She wants electric and convertible so choices are slim - but when you consider both the mini and the fiat 500 are over £30K, it starts to make the model 3 seem like a lot more car for not much more money

2. I had forgotten how painful it is to buy a car the traditional way. While Tesla after sales are not the best, the joy of being able to buy a car without dealing with car salesman is not to be underrated. It's exhausting just trying to get the actual cost of the car out of them

3. Personally I think the biggest mistake Tesla ever made was opening up the charger network to everyone. It was the one USP no other manufacturer could match and the reason why so many Tesla owners I know, stuck with the brand AND the reason why so many non Tesla owners I know wished they owned a Tesla instead.

I agree with 3 but I feel like their hand was forced. A mixture of government incentives that they couldn’t have got in many countries unless it was open, they’d have been at a commercial disadvantage without them. Also some restrictions on prime locations unless open to all.

I’m sure it’s hurt their sales and maybe they should have swallowed the cost without the subsidies as maybe the additional car sales would have offset that. Too late now, cannot see them reversing this.

 

[Type2]

2. I had forgotten how painful it is to buy a car the traditional way. While Tesla after sales are not the best, the joy of being able to buy a car without dealing with car salesman is not to be underrated. It's exhausting just trying to get the actual cost of the car out of them

These days there should be no reason to buy a car the traditional way. I bought my last two cars (both Audi A6s) through an online broker. Configured the car online and ordered, had a brief call from the dealership to confirm details, a couple of email exchanges and the car was delivered on a flatbed with six miles on the clock. No pushy salesmen, no hassle at all. Every bit as easy as ordering from Tesla and I saved 22% on the list price of both cars.

 

[Sean.]

These days there should be no reason to buy a car the traditional way. I bought my last two cars (both Audi A6s) through an online broker. Configured the car online and ordered, had a brief call from the dealership to confirm details, a couple of email exchanges and the car was delivered on a flatbed with six miles on the clock. No pushy salesmen, no hassle at all. Every bit as easy as ordering from Tesla and I saved 22% on the list price of both cars.

Agreed I think this whole buying it the Tesla way is superior and the only hassle free way, is frankly a bit overcooked.

 

[Whyone]

Agreed I think this whole buying it the Tesla way is superior and the only hassle free way, is frankly a bit overcooked.

Agreed.

We bought a 500e; absolutely no need to deal directly with the dealer to get a hassle free purchase at an extremely competitive price.