BMW led the European battery electric vehicle (BEV) market for the first time, beating US carmaker Tesla, according to market research firm Jato Dynamics.
The German auto giant sold 14,869 BEV cars in July, about 300 more than Tesla last month.
Why it is important
The data underscored traditional carmakers' success in the market after trailing pure electric-vehicle manufacturers, driven by government policies and brand royalty.
Key quote
"The lack of clarity around the incentives for, and future of, EVs continues to present a barrier to consumers considering an EV. These factors alongside the low residual value of EVs contributed to the decline seen in July," said Felipe Munoz, Global Analyst at Jato Dynamics, referring to a drop in total EV sales.
Context
Tesla, the world's most valuable carmaker, remains the dominant player, but traditional carmakers such as BMW and Volvo are gaining ground due to uncertainties surrounding EV subsidies and incentives.
CEO Elon Musk's polarising persona has also been influencing sentiment toward Tesla, according to some reports.
By the numbers
BMW reported a 35% jump in sales last month from a year earlier, while Tesla saw registrations fall 16%, the report said.
About 139,300 new electric cars were registered last month, down 6% from July 2023, according to the report, which added market share of EVs slipped to 13.5% from 14.6% a year earlier.
BMW overtakes Tesla in European EV sales for first time: report
Image: Lennart Preiss/Getty Images
BMW led the European battery electric vehicle (BEV) market for the first time, beating US carmaker Tesla, according to market research firm Jato Dynamics.
The German auto giant sold 14,869 BEV cars in July, about 300 more than Tesla last month.
Why it is important
The data underscored traditional carmakers' success in the market after trailing pure electric-vehicle manufacturers, driven by government policies and brand royalty.
Key quote
"The lack of clarity around the incentives for, and future of, EVs continues to present a barrier to consumers considering an EV. These factors alongside the low residual value of EVs contributed to the decline seen in July," said Felipe Munoz, Global Analyst at Jato Dynamics, referring to a drop in total EV sales.
Context
Tesla, the world's most valuable carmaker, remains the dominant player, but traditional carmakers such as BMW and Volvo are gaining ground due to uncertainties surrounding EV subsidies and incentives.
CEO Elon Musk's polarising persona has also been influencing sentiment toward Tesla, according to some reports.
By the numbers
BMW reported a 35% jump in sales last month from a year earlier, while Tesla saw registrations fall 16%, the report said.
About 139,300 new electric cars were registered last month, down 6% from July 2023, according to the report, which added market share of EVs slipped to 13.5% from 14.6% a year earlier.
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