TSLA: one competitor bites the dust..

Not exactly dead and buried, but VW’s ramp up of mass-market electric vehicle sales has been less impressive than hoped for. After 7 months this year, VW has sold ~202k BEVs (34% of VW's FY target of >600k BEVs). Of these, ~89k have been sales of the ID. product family, with 73% of sales in Europe. This might be related to consumer adoption in different segments (early adoption higher in premium vs. mass), teething problems of the direct distribution model (esp in China), semi shortage and/or some product-related issues. These problems seem to be more pronounced in China than in Europe. VW's total monthly BEV sales need to increase to a monthly average of 80k (from 32.4k in July) for VW to reach its annual BEV sales target.