Tesla Vs. VW: Which Is the Better Buy as Battle For European EV Market Heats Up?
In recent years, the popularity of electric cars has surged across China, the United States, and Europe. This surge is attributed to the green revolution, which is particularly emphasized in the old continent.
While the European Union won't officially ban new internal combustion car sales from 2035, they're set to be 100% emission-free in terms of CO2 emissions, potentially giving a boost to the electric car market.
Amid the European competition for electric car sales dominance, Volkswagen (OTC:VLKAF) and Tesla (NASDAQ:TSLA) are the key players, with the unexpected shift in leadership favoring the German giant in its home market.
This sets the stage for an exciting battle in the years ahead, ultimately benefiting consumers as manufacturers strive to outdo each other.
With EU-level changes in the car market and increasing incentives for electric mobility, electric car sales are on the rise. The data underscore this trend — in June this year, electric car sales (15.1%) surpassed diesel units (13.4%) for the first time. Gasoline cars still hold the lead (36.2%), ahead of hybrids (24.3%).
This shift is particularly pronounced in the dominant German market, where 220,244 units were sold in the same month. Looking at the broader European market in the first half of the year, the Tesla Model Y emerged as the most popular model, selling 125,144 units with an impressive growth rate of +211.7%.
Meanwhile, the top 10 spots are firmly held by Volkswagen models: Volkswagen T-Roc (107,249), Volkswagen Tiguan (88,020), and Volkswagen Golf (85,730). This puts the German manufacturer ahead of its American counterpart in terms of units sold. However, if Tesla sustains its current momentum, a reshuffling of the ranks could be in the cards.
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