Volkswagen will overtake Tesla in electric sales in 2024

Volkswagen will overtake Tesla in electric sales in 2024

According to a report by Bloomberg Intelligence, Volkswagen will be able to sell more electric cars than Tesla in early 2024 due to the breadth of its line, for the various brands it has in its group, such as Audi, Porsche and Bentley.

Thus, for Volkswagen ID.3 and ID.4 SUV, Audi e-Tron and super sports Porsche Taycan, the group tends to offer more than Tesla. The key markets for this leadership change to take place are China and Europe, with electric vehicles expected to account for up to 25% of all vehicle sales in China and 20% in Europe by 2025.

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Currently, Volkswagen already sells more electric cars than Tesla in Europe. However, in China, Volkswagen is still far behind Tesla, with only 3.5% of electric cars sold in the country coming from Volkswagen and 13% from Tesla. Electric models currently account for just 11 percent of all car sales in China, with incentives for automakers to sell electric cars in the country.

As such, Tesla’s limited lineup of just two models produced in China — the Model 3 sedan and the Model Y SUV — leaves it vulnerable to a surge in products from domestic brands and Volkswagen. Analysts do not expect the arrival of the Tesla Cybertruck, the brand’s first model, to significantly improve the company’s sales.

In this way, if what Bloomberg Intelligence predicts happens, in 2024 Volkswagen and Tesla, in the first and second places in electric sales, should sell more than 2 million electric cars a year. China’s BYD is expected to take third place, selling one million trams in 2024.

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