BMW Passes Tesla and Tops Europe’s EV Sales Rankings
German manufacturer bucks trend of slowing demand in July.
Sales of Chinese EV imports fell sharply due to EU tariffs.
Tweet on BMW EV sale surge
BMW AG pulled ahead of @Tesla and led the EU's EV market for the first time last month!#bmw #tesla #ev pic.twitter.com/NbcIcIw4oh
— The_Journalbiz (@the_journalbiz) August 22, 2024
Jato Dynamics chart
BMW AG pulled ahead of Tesla Inc. and led Europe’s electric vehicle market for the first time last month, extending the German carmaker’s strong run of growth as other manufacturers struggle.
According to data compiled by consultants Jato Dynamics, sales of fully electric BMWs in the bloc jumped by more than a third to 14,869 units in July. Tesla’s registrations declined 16% to 14,561 units.
While Tesla still holds a commanding lead in EV sales year-to-date, it’s ceding market share in Europe to the likes of BMW and Volvo Car AB. European auto buyers registered a total of 139,300 new EVs last month, down about 6% from a year ago.
Demand for electric cars is cooling in Europe after countries including Germany and Sweden ceased or pared back subsidies, prompting manufacturers to walk back their EV ambitions. Volkswagen AG — the region’s biggest automaker — said this month it’s reducing capacity at high-cost plants in Germany and indicated it might delay new electric models. Mercedes-Benz Group AG is dialing back its electrification plans and battery initiatives.
