Final month, BMW offered extra electrical automobiles than Tesla for the primary time in Europe. BMW led the market regardless of slowing electrical car gross sales within the area. With EV gross sales climbing, BMW is narrowing the hole with Tesla within the EU.
In accordance with new information from Jato Dynamics, 1.03 million automobiles have been registered in Europe final month, up 2% in comparison with final 12 months. Regardless of gross sales slipping in Germany (-2%), France (-2%), and Belgium (-7%), different EU markets helped drive progress.
Portugal (+19%), Poland (+19%), and Slovakia (+12%) helped increase gross sales, whereas the UK (+3%), Italy (+5%), and Spain (+5%) noticed modest progress.
In July, SUVs set a brand new document with 554,000 items registered, up 6% YOY. BMW, Toyota, Mercedes, and Volvo proprietor Geely have been the highest progress drivers. In the meantime, Volkswagen was the quantity chief with a 26% share, adopted by Hyundai (together with Kia) at 12%.
Luxurious (F-SUVs) led the expansion, with 5,022 fashions registered, up 32% YOY. Giant SUVs have been up 23% (27,600), whereas registrations of mid-size fashions fell 7% (106,500) final month.
BMW leads EV gross sales progress, tops Tesla for the primary time
In accordance with Jato’s information, European electrical car gross sales fell 6% YOY in July 2024. With 139,300 new fashions registered final month, the EV market share fell to 13.5% from 14.6% in July 2023.
BMW led EV gross sales in Europe for the primary time final month, with EV gross sales reaching 14,869, up 35%. Tesla was second with 14,561 fashions registered, adopted by Volkswagen (12,213), Volvo (10,533), and Audi (8,618).
BMW’s newest fashions, together with the iX1, i4, and i5, noticed appreciable progress, whereas the brand new iX2 notched over 1,300 registrations.
The iX1 and i4 have been the sixth and seventh best-selling EVs in Europe final month, with 4,305 (+25%) and 4,198 (+23%) fashions registered.
Regardless of registrations slipping 16% YOY, Tesla’s Mannequin Y was nonetheless the top-selling EV final month in Europe, with 9,544 items offered.
One other spotlight from the report is Volvo’s climbing market share. Volvo was the market share winner, gaining 5.5%, adopted by BMW at 3.2%. Volvo’s new EX30 was the second best-selling EV in Europe, with 6,573 registrations in July.
Though Tesla’s registrations slipped 16% to 14,561, it nonetheless maintains a dominant lead YTD. Tesla has offered 178,700 fashions in Europe via July, in comparison with BMW, with 97,525, and VW, with 88,445.
Whereas Tesla continues to be the clear chief via the primary seven months of 2024, BMW, Volvo, and others are gaining market share.
Electrek’s Take
With new fashions hitting the market, Tesla’s market share was destined to fall. The identical is occurring within the US, as Tesla’s share slipped under 50% for the primary time.
Tesla is updating its automobiles with the brand new Mannequin 3 Highland rolling out and the Mannequin Y refresh just lately leaking.
Extra just lately, we discovered Tesla is testing a less expensive Mannequin 3 inside in Mexico, beginning at round $35,000 (749,000 pesos). Will we see it hit different markets like Europe or the US?
Tesla additionally launched the Cybertruck, which isn’t out there in Europe. Nevertheless, the Cybertruck is gaining floor within the US because the fifth best-selling EV within the second quarter.
The Cybertruck topped Ford’s F-150 Lightning and Rivian R1T to change into America’s top-selling electrical pickup in Q2.
Supply: Bloomberg, Jato Dynamics
