Tesla has been feasting on the profits of the big German carmakers’ European luxury portfolio with its Model S sedan and Model X SUV, but its assault on Europe is about to hit high gear as sales of the smaller all-electric Tesla Model 3 get underway here.
The likes of BMW, Mercedes, Audi, and Porsche and not forgetting Indian-owned and British-based Jaguar Land Rover , have been feebly-slow in ratcheting up their electric portfolios compared with Tesla. But the Model 3 mid-sized sedan also threatens high-end gasoline-powered mid-size vehicles with massive profit margins like the BMW 3 series, Audi A4, Mercedes C class and Jaguar XE, as European early adopters and rich virtue-signallers swarm all over the Model 3.
But Professor Ferdinand Dudenhoeffer, director of the Center for Automotive Research at the University of Duisburg-Essen in Germany reckons the Model 3 will be a big hit and soon.Dudenhoeffer said he expects 80,000 Model 3 sales in Europe this year, although he has reined in his initial forecast of 100,000 made late last year.
Felipe Munoz, global automotive analyst at JATO Dynamics, said the Model 3 will be a big success initially, but the duration of its supremacy depends on how quickly the opposition, mainly German, can crank up their electric car output. Model 3 sales started in Germany, Switzerland, and Norway in February with a version costing $72,000 with a long-range battery pack. The Performance version with two electric motors and four-wheel drive will also be available., some really eager early adopters managed to acquire 67 Model 3s in January. It hasn’t yet compiled the European sales results for February. In 2018 Tesla sales in Europe totaled 29,614 compared with its U.S. sales of 191,627, according to carsalesbase.
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