Sales of all-electric BMWs rose by more than a third in July, though the German automaker still lags Tesla in sales so far this year.
The German company BMW dominated the European electric vehicle market for the first time in July, recording a surge in demand as other competitors struggled.
The German manufacturer sold 14,869 fully electric cars in July, according to research firm Jato Dynamics, representing a year-on-year increase of 35%. Elon Musk’s Tesla, meanwhile, sold 14,561 electric vehicles, down 16%.
BMW gains market share in July, although sales slow
As for the market as a whole, Jato data suggests that Europeans are falling out of love with electric vehicles, as EV registrations from last month fell by 6% compared to July 2023.
“The lack of clarity around incentives and the future of electric vehicles remains a barrier for consumers considering purchasing an electric vehicle,” said Felipe Muñoz, Global Analyst at JATO Dynamics.
Germany ended its electric vehicle subsidy programme in December as part of a cost-cutting drive, prompting manufacturers to rethink their electrification strategies.
So far, BMW has emerged relatively unscathed compared to its competitors, which some analysts attribute to customer loyalty to the brand.
Some experts have also suggested that polarizing political comments from Elon Musk, CEO of Teslamay be hurting the US company’s sales. Still, Tesla continues to lead sales so far this yearwith a total of 178,700 vehicles. And based on current trends, this is not expected to change.
BMW ranks second in cumulative annual electric car sales in 2024, with 97,525 saleswhile Volkswagen is in third place with a total of 88,445.
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