BMW led the European battery electric vehicle (BEV) market for the first time, US automaker surpassed Teslaaccording to market research agency JATO Dynamics.
The German auto giant sold 14,869 BEV cars in July, about 300 more than Tesla the previous month.
The data highlights the success of traditional automakers in the market, after they left behind electric-only makers, driven by government policy and brand royalty.
“The lack of clarity around the incentives for – and the future of – EVs continues to pose a barrier to consumers considering an EV. These factors, along with the low residual value of EVs, contributed to the decline seen in July,” said Felipe Munoz, Global Analyst at JATO Dynamics, referring to a decline in overall EV sales.
Tesla, the world’s most valuable automaker, remains the dominant player, but traditional automakers like BMW and Volvo are gaining ground due to uncertainties surrounding subsidies and incentive measures for electric vehicles.
CEO Elon Musks According to some reports, the polarizing personality is also affecting sentiment towards Tesla.
BMW reported a 35% increase in sales last month from a year earlier, while Tesla saw a 16% drop in registrations, the report said.
About 139,300 new electric cars were registered last month, down 6% from July 2023, the report said. The market share of electric vehicles also fell to 13.5% from 14.6% a year earlier.