BMW Overtakes Tesla in Electric Car Sales for First Time
BMW has taken the lead in Europe’s battery-electric car market for the first time, beating out U.S. automaker Tesla Inc. (TSLA.O), according to market research firm JATO Dynamics .
The German auto giant sold 14,869 battery-electric vehicles in July, about 300 more than Tesla last month. The German automaker still trails Tesla in sales for the year so far, though.
The report also states that BMW recorded a 35% increase in sales last month compared to the previous year, while Tesla saw a 16% decrease.
In terms of the broader market , Jato data suggests that Europeans have lost their love for electric cars, with electric car registrations down 6% last month compared to July 2023.
“The lack of clarity around incentives and the future of electric vehicles continues to be a barrier for consumers considering buying an electric car,” said Felipe Munoz, global analyst at Jato Dynamics.
Germany notably ended its electric car subsidy program in December as part of a cost-cutting drive, which has prompted manufacturers to rethink their electric strategies.
So far, BMW has come out relatively unscathed compared to its rivals, which some analysts attribute to brand loyalty among customers, and some experts have said that polarizing political statements from Tesla CEO Elon Musk could hurt Tesla’s sales. Still
, Tesla remains in the lead when looking at year-to-date sales, with a total of 178,700 vehicles sold.
BMW is in second place, with 97,525 cars, while Volkswagen is in third place with a total of 88,445 cars.
BMW reportedly led overall sales, but the Tesla Model Y was the best-selling electric car in Europe in July, selling 9,544 units, followed by the Volvo EX30 in second place with 6,573 sales, and the Volkswagen ID.4 in third place with 5,295 sales.
Two BMWs also achieved high positions, with the BMW iX1 coming in fourth place with sales of 4,305 cars, while the BMW i4 came in fifth with sales of 4,198.