[David70]

https://www.cnbc.com/2021/01/15/tesl...gist-says.html

Tesla losing ground in Europe should trouble investors, strategist says

Saxo Bank Head of Equity Strategy Peter Garnry said Tesla’s outpacing by Renault, Volkswagen and Hyundai in Europe in recent months should have shareholders “alarmed.”

November’s European vehicle registration figures showed that plug-ins, a combination of pure electric and hybrid vehicles, rose by 198% year-on-year, while total car registrations across the continent were down 14%.

In the latest European EV rankings, Renault Zoe held onto the top spot, closely followed by the VW ID.3, according to sales figures from plug-in vehicle market database EV Volumes.

Tesla has been ceding ground in Europe, with its Model 3 now only the fourth-best selling pure electric vehicle (EV) on the continent, according to recent statistics.

The European EV market is now the biggest in the world in terms of sales following a surge in 2020 accompanying a slump in China. The portion of new car registrations that are electric is twice that of China and five times that of the U.S.

“Tesla will be successful and become one of the biggest carmakers in the future, but the competition is heating up and that puts the $805 billion market value into question,” Garnry said.