Tesla closes in on Porsche as model 3 sales jump

Tesla’s Model 3 has jumped off the starting line in Germany, drawing the US electric-car company almost even with the vaunted Porsche sports-car brand in its second month of sales.

German car registrations for Tesla rose more than five times to 2 367 vehicles in March, following the Model 3’s introduction to Europe in February. The sales total, which includes models S and X, puts Tesla just 356 vehicles shy of Volkswagen AG-owned Porsche, monthly figures from the Federal Motor Transport Authority show.

Porsche sales dropped 9.5% in March because of stricter emission tests in Europe, a decision to stop diesel cars and the model changovers of the 911 and Macan.

While premium-car heavyweights like Mercedes-Benz and BMW remained far ahead, the California company did leave well-known nameplates like Jaguar, Land Rover and Honda in the dust. Tesla delivered 3 596 cars in Europe’s largest economy in the first three months, as the market eked out 0.2% growth to 880 092 vehicles.

While Tesla is gaining, German peers are revving up electrification efforts, with Audi’s E-Tron already on sale, and the debuts this year of the Mercedes-Benz EQC and Porsche’s Taycan.

The market for battery cars in Europe remains small with customers worrying over patchy charging infrastructure and comparatively high prices.

ZAR/USD
16.83
(+0.36)
ZAR/GBP
21.23
(+0.57)
ZAR/EUR
19.00
(+0.99)
ZAR/AUD
11.72
(+0.85)
ZAR/JPY
0.16
(+0.45)
Gold
1802.68
(-0.29)
Silver
18.64
(-0.18)
Platinum
835.00
(-1.41)
Brent Crude
43.32
(+0.49)
Palladium
1939.00
(+1.81)
All Share
55787.90
(-0.15)
Top 40
51536.91
(-0.04)
Financial 15
10339.64
(+0.63)
Industrial 25
77428.31
(-0.10)
Resource 10
52587.29
(-0.39)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1874 votes
I am taking a hit, but should be able to recover in the next year
23% - 2457 votes
My finances have been devastated
34% - 3653 votes
It's still too early to know what the full effect will be
25% - 2629 votes
Vote