BMW in July overtook Tesla for the first time in history to take first place in electric vehicle sales in Europe, despite declining demand for electric vehicles overall and the difficulties experienced by many automakers.
Image source: Taneli Lahtinen/Unsplash
Sales of all-electric BMW vehicles in the European Union jumped by more than a third to 14,869 units in July, while Tesla sales in the region fell 16% to 14, according to global automotive business intelligence consultancy Jato Dynamics. 561 units. However, Tesla still maintains a significant lead in annual sales, Bloomberg reports.
Chart for July:
Image source: Jato Dynamics/Bloomberg
At the same time, the total number of registered new electric vehicles in Europe in July amounted to 139,300 units, which is 6% less than in July last year. In this regard, JATO analyst Felipe Munoz notes: “The lack of clarity around incentives and the future of electric vehicles continues to create a barrier for consumers. These factors, along with the low residual value of electric vehicles, contributed to the decline in sales in July.”
Experts note that demand for electric vehicles in Europe began to decline after Germany and Sweden stopped or reduced subsidies, which in turn prompted manufacturers to reconsider plans for electric vehicles. In particular, Volkswagen announced capacity cuts at high-cost plants in Germany and a possible delay in the release of new electric models, while Mercedes-Benz revised its plans for electrification and battery production.
BMW has bucked the trend thanks to strong demand for electric vehicles, including the i4 and iX1, which have outsold similar models from Mercedes and Audi. Tesla Model Y maintained its position as the best-selling electric model in Europe in the first half of the year. Chinese automakers such as BYD and SAIC Motor have also begun expanding their presence in Europe this year, but the threat of new EU tariffs has slowed that progress.