BMW overtakes tesla in European electric vehicle sales for the first time
In July, Germany's Bayerische Motoren Werke AG (BMW) overtook Tesla Inc. in electric vehicle (EV) sales in Europe, becoming the market leader. According to Jato Dynamics, BMW's sales of fully electric vehicles in the region increased by more than a third to 14,869 units last month, while Tesla's sales fell by 16% to 14,561.
Tesla remains the leader in Europe for total EV sales this year, but it is losing ground to companies like BMW and Volvo Car AB. In total, 139,300 new electric vehicles were sold in Europe in July, 6% fewer than the same month last year. The Tesla Model Y remained the best-selling EV in the region in the first half of the year, but its sales fell by 16% in July. BMW's success is driven by strong demand for models like the i4 and iX1, which are outperforming comparable cars from Mercedes and Audi.
Demand for EVs in Europe is declining following the reduction or elimination of incentives for this market in countries like Germany and Sweden. As a result, some automakers, including Volkswagen and Mercedes-Benz, have had to revise their targets in the EV segment. Chinese automakers such as BYD Co. and SAIC Motor Corp. have been gradually increasing their presence in Europe this year, but the recent introduction of additional tariffs by the European Commission on EV imports from China has dampened this momentum.
Energy
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