Tuesday Ticker: Tesla Model Y dominates European car sales; U.K. watchdog investigates LKQ, Uni-Select deal

Toronto, Ontario — This week, Tesla marks a milestone with the Model Y while LKQ and Uni-Select reconvene to tackle concerns from the United Kingdom Competition and Market Authority.

The Y in Europe
The Tesla Model Y was Europe’s best-selling vehicle in the first half of 2023, according to numbers from DataForce.

A total of 125,144 Model Ys were registered in Europe between January 2023 and June 2023. That marks an increase of 212 percent over the same period last year.

According to Drive Tesla Canada, this number actually under-represents the total number of Model Ys as it accounts for 94 percent of sales in the European Union, plus the United Kingdom and EFTA countries.

The Model Y’s European reign first started in February of this year, when it became the region’s best-seller with more than 18,000 units sold. Again, in March, the Model Y came out on top, outselling the second-most-popular vehicle by more than 20,000 units.

Uni-Select and LKQ update
Britain’s competition regulator may launch a deeper investigation into LKQ’s deal to buy Uni-Select unless the companies address the regulator’s concerns.

The U.K. Competition and Markets Authority said Friday that it has concluded the LKQ and Uni-Select merger could raise competition concerns in the auto parts supply chain and auto repair equipment markets in Britain.

“Drivers are already paying…more for their fuel than they usually would expect to. We are concerned this transaction could further increase costs to people and businesses,” wrote a rep from the Markets Authority.

LKQ and Uni-Select are working to formally submit remedy proposals to the authority; the latter said it expects the deal to be completed sometime in Q3 2023.

The companies have until Friday to respond.


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