According to JATO Dynamics, BMW has surpassed Tesla in the European battery electric vehicle (BEV) market for the first time.
BMW had a fantastic month in July, selling an impressive 14,869 BEVs. They even managed to surpass Tesla by a small margin of about 300 units.
This accomplishment showcases the progress that traditional automakers are making in the BEV market, thanks in part to supportive government policies and the loyalty of their customers.
Nevertheless, there are still some obstacles that consumers may encounter when considering EVs, such as incentives that may not be clearly defined and the potential for low resale values.
According to Felipe Munoz, a Global Analyst at JATO Dynamics, these issues played a role in the decrease of total EV sales in July.
Even though Tesla holds the title of being the world's most valuable automaker, other brands such as BMW and Volvo are making significant progress, thanks to the
-uncertainties surrounding EV subsidies. In addition, the public perception of CEO Elon Musk could potentially impact Tesla's overall appeal.
BMW enjoyed a significant 35% surge in sales, while Tesla faced a 16% decline in registrations. Last month, there were 139,300 new electric cars registered,
-which is a 6% decrease compared to July 2023. The EV market share also dropped from 14.6% to 13.5% compared to the previous year.
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