TESLA STAYS STRONG IN US AND EUROPE WHILE GROWING ENORMOUSLY IN CHINA

China drove most of the growth of Tesla in 2021, as the popularity of the Model 3 was boosted by local production, while the launch of the Model Y added further impetus.

Tesla set a new sales record in its home market, although its growth there wasn’t as strong as in China, as the number of EV early-adopters in the US is possibly starting to tail off. In fact, demand in China for Tesla’s new compact crossover was so strong that volumes there were equal to those in the US.

Europe also contributed, but Tesla might ultimately be held back there, because Europeans prefer hatchbacks to saloons.

JATO ANALYSIS

“The Model 3 is a best-seller for several reasons. It’s the reference model and the brand has become trendy. Plus, more affordable versions hit the market and it was available in more markets. Significantly, availability wasn’t as affected by the chip shortage as it was for other cars.”