The biggest car makers will dominate Europe’s car market for the next few years, with Tesla (NASDAQ:TSLA) and Mercedes-Benz (NASD:MB) poised to make major inroads into the market, according to new research from automotive analyst MMB.
In a report released Tuesday, MMB analyst Christopher Poulson and colleagues said that Mercedes-AMG (NYSE:BMG) will have a clear advantage in the European market over rivals, especially Audi (NASDA:AUS) and BMW (NASDB:BMW).
MMB analysts expect Mercedes-Amg to have a 40 percent share of the European car market, compared to 20 percent for Audi.
In addition, Mercedes-AMS’ market share of 4.2 percent is likely to be the lowest in the industry.
In the U.S., Tesla (NYSE.
O:TSDA) will be dominant in 2019, according MMB, as it is expected to build out its electric and autonomous vehicle program.
The company will also be able to bring its Model 3 sedan and Model S sedan to market in 2019.
Tesla will also build out an all-electric and autonomous powertrain.
In Europe, Audi is expected do well, as MMB expects its share of Europe’s automotive market to grow from 5.6 percent in 2019 to 8.3 percent in 2020.
BMW is expected grow its market share from 2.4 percent in 2018 to 6.9 percent in 2021.
In 2018, Audi sold 1.4 million vehicles, Mercedes sold 1 million vehicles and BMW sold 7,000 vehicles, according the report.