Report: Volkswagen may sell more electric cars than Tesla by 2024

The Volkswagen Group manages 10 different brands in price and fame, from Volkswagen to Bentley, with a variety of electricity in markets around the world, including the Audi e-Tron model and the Volkswagen ID.3 compact car. You can sell the model. ID.4 SUV and high performance Porsche Taycan. More is expected in the coming years from the entire Volkswagen Group brand. The limited lineup of Tesla models remains particularly vulnerable to the range of Volkswagen offerings and pricing.

Two markets, China and Europe, will be particularly important in determining electric vehicle leadership in the coming years. Regulations in both of these locations are in great support for electric vehicles. By 2025, EVs are expected to account for 25% of all vehicle sales in China and 20% in Europe, according to the report. Headquartered in Germany and with multiple factories throughout Europe, Volkswagen is already leading Tesla’s EV sales.

However, in China, Volkswagen is currently far behind Tesla in EV sales, accounting for only 3.5% of last year’s EV market. Tesla will account for 13% of EV sales in China in 2021 and is tied to China’s own BYD, behind another Chinese car maker, Wuling, which sells 16% of all EVs in China. increase. The remaining 55% of EV sales in China comes from many small, mostly Chinese automakers. Currently, electric models account for 11% of China’s car sales, but due to regulations, automakers who do not sell EVs are burdened with a large cost and reward manufacturers who sell EVs, so the ratio rises rapidly. It is expected that.

Analysis shows that Tesla’s particularly thin lineup of two locally produced models in China (Model 3 sedan and Model Y SUV) remains vulnerable to increasingly attractive products from local manufacturers and Volkswagen. is. Tesla has also promised to build its Shanghai plant for export rather than the local market.

Bloomberg Intelligence analysts previously predicted that Volkswagen could pass Tesla around the world in 2023. Tesla’s move to open new factories in Texas and Germany pushed that date away. The year added also depends on Tesla’s introduction of Cybertruck, but Bloomberg Intelligence analysts admit it is “suspicious.” Tesla has postponed the launch date of Cybertruck’s electric pickups several times.

Kevin Tainan, a North American automotive industry analyst at Bloomberg Intelligence, said Cybertruck wasn’t expected to see a significant increase in Tesla’s sales. Compete with electric trucks from well-established truck makers such as Ford and General Motors. With its strange styling, Cybertruck primarily appeals to Tesla enthusiasts who see it as a new and different Tesla product. GM, Ford, and Stellantis, which will offer Ram electric pickup trucks in 2024, will not allow Tesla to easily steal pickup sales.

โ€œThis is one of the largest segments of retail sales for domestic automakers,โ€ says Tynan. “It’s the turf they’re trying to protect more than anything else.”

If According to Bloomberg Intelligence, Volkswagen will push Tesla to second place in the world’s EV in 2024, with the two automakers overwhelmingly leading all other automakers, each far more than two million units that year. Sell โ€‹โ€‹more than electric cars. BYD in China is expected to sell one million EVs in 2024, one-third.

What happens after that depends heavily on the time when electric vehicles will be independently profitable for automakers without government intervention, Tainan said. When that happens, established automakers can plunge into the market and put further pressure on Tesla. He said GM’s publicly announced 2035 target date for manufacturing only zero-emission vehicles could provide solid clues as to when that might happen.

“If GM wanted to make money with the product, would it take 15 years to get there?” He said. “No. They are looking at the timeline.”


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