BMW Overtakes Tesla in EU Electric Vehicle Sales
By David Sachs
BMW registered more fully electric vehicles than Tesla in the European Union last month, dethroning Elon Musk's company as overall demand for zero-emissions cars waned.
Automotive research firm Jato Dynamics said Thursday that the German luxury-car maker took the top spot from Tesla, driven by the iX1, i4, and i5 models. BMW registrations, which reflect sales, rose by more than a third, while Tesla's fell 16%, the firm said.
Still, overall EV registrations, which reflect sales, fell 6% to 139,300.
On the whole, demand for cars in Europe ticked up 1.5% on-year in July, the research company said. Sport utility vehicles, which are gaining popularity in Europe, helped drive growth. SUVs gained their largest market share in Europe to date, Jato Dynamics said.
BMW, Toyota, and Volvo Cars owner Geely Group propelled growth in the SUV segment, but Volkswagen took the top spot with 26% of market share, according to Jato Dynamics.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
August 22, 2024 11:43 ET (15:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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