Tesla Model Y Could Lose Bestselling Title In Europe To This Non-EV Car

The Tesla Model Y electric vehicle from Tesla Inc TSLA might not win title of Europe's bestselling vehicle for a second straight year, ending a short reign for electric vehicles.

What Happened: The Model Y broke records for electric vehicles in 2023 and became the first EV to be the bestselling car globally for a full year. In Europe, it was the bestseller for 2023.

While the Model Y was Europe's top seller in 2023, a repeat now appears unlikely.

According to data from Automotive News Europe, the Model Y now ranks behind the Dacia Sandero, an internal combustion engine hatchback from French company Renault.

The data, shared by Electrek, shows that the Model Y ranks sixth through the month of November.

The Sandero led the way in November with 21,506 vehicles sold, with the Volkswagen Tiguan second at 18,618.

Year-to-date, the Model Y has 181,781 units sold in Europe, which ranks around 65,000 units behind the Dacia Sandero.

Tesla is offering several incentives through the end of year that could push the vehicle higher up the list, including a year of free charging at Tesla Supercharger locations to anyone who buys a Model Y before the end of the calendar year.

The BYD Song from BYD Co BYDDY is mentioned as a top performer for the year with sales up 42% year-over-year.

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Why It's Important: With a price point of $13,051, the Dacia Sandero is more appealing to many consumers in Europe looking for a less expensive new car and not willing to spend a higher amount to get an electric vehicle.

Tesla taking the top spot in Europe in 2023 was a great storyline for electric vehicles, but could be hard to replicate without cheaper EV models hitting the country. The Model Y refresh named Juniper and likely coming in 2025, could see Model Y figures get a boost worldwide in 2025.

TSLA Price Action: Tesla stock was down 3% to $421.06 on Friday versus a 52-week trading range of $138.80 to $488.54. Tesla stock is up 70% year-to-date in 2024.

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