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Tesla’s New TSLA Model 3 Dominates European EV Markets

As electric vehicles (Or EV for short) slowly gains traction across the world, many of the giants in the automotive industry are taking notice of it. Even so, Tesla managed to gain control of the markets within Europe by an evident margin, outselling conventional vehicles in some countries.

As pollution, rising costs, impracticality, and datedness of combustion engine-based vehicles start to make it less and less feasible, the niche market of EVs began to grow by the day. One of the front runners of EVs, Tesla, have released their latest vehicle, the TSLA Model 3, to very grand receptions within the European market.

Even as global electric car sales finally started to drop in June thanks in part due to China holding back purchases, Tesla’s Model 3 managed to be the bestselling EV within the European market. Even with China and North America showing lesser interest, Tesla’s profits are doubtlessly climbing.

The Bestseller in Europe

More than 10 000 units have been sold within the Netherlands this year, a rather incredible feat for any automotive company, let alone one catering to the EV niche. During the timeframe of January-August, Tesla’s Model 3 was reported to be the third most bought automotive vehicle within the Netherlands, but this changed in September this year with a massive surge of deliveries that made the Model 3 the most popular car this year within the Netherlands, trumping its combustion counterparts. The Netherlands are leading figures in the amount of EV’s shipped in, only being beaten by Norway.

Speaking of Norway, their market for Tesla’s Model 3 is nothing short of impressive. The Model 3 is the most-bought car, by a large margin in fact, within the Scandinavian country. Twelve thousand units have been sold within Norway, more than double the closest competitor, the Volkswagen Golf.

Bouncing Back

Tesla itself has had a bit of a rough patch, crunching cash flow, high costs of manufacturing and a rather stretched out balance sheet has had the company’s share prices drop. China’s economy slowing down while being one of the biggest EV consumers will doubtlessly affect Tesla in the foreseeable future.

With Europe practically gobbling up their Model 3, they could very likely balance out China dropping its sales. Europes EV sales have steadily been rising by 34%, year-to-date, and will probably continue to grow as more and more people catch the EV trend within Europe.

A Few Stats

With most EVs having much smoother driving compared to conventional vehicles, sporting instant torque and a silent drive due to the lack of internal combustion, the Model 3 itself sports a 0-60 mph of 4.4 seconds at its most baseline model. The ease of handling mainly comes from the care’s lack of engine needing to build torque, capable of instantly pushing out revs instead of painstakingly managing fuel intake.

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Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.