- BMW sold 14,869 fully electric vehicles in Europe in July 2024, a 35% increase from the previous year, surpassing Tesla’s 14,561 EV sales.
- Overall EV registrations in Europe dropped by 6% in July 2024 compared to July 2023.
In a significant shift within the European electric vehicle (EV) market, BMW has surpassed Tesla in monthly sales, marking the first time the German automaker has led the pack.
According to market research firm JATO Dynamics, BMW sold 14,869 fully electric vehicles in July, reflecting a 35% year-on-year increase. This performance places BMW just ahead of Tesla, which recorded 14,561 EV sales—a 16% decline compared to the same period last year.
Despite BMW's impressive growth, Tesla remains the leader in year-to-date sales, with 178,700 vehicles sold so far in 2024. BMW follows in second place with 97,525 units, and Volkswagen rounds out the top three with 88,445 sales.
JATO Dynamics' data suggests that the European market is cooling towards EVs, with overall EV registrations falling by 6% in July 2024 compared to July 2023. Felipe Munoz, Global Analyst at JATO Dynamics, commented on this trend, saying,
"The lack of clarity around the incentives for - and future of - EVs continues to present a barrier to consumers considering an EV."
He added that the low residual value of EVs has also contributed to the recent decline in sales.
Germany's decision to end its EV subsidy program in December 2023 as part of a cost-cutting initiative has added further uncertainty to the market, prompting many automakers to reevaluate their electrification strategies. However, BMW's brand loyalty appears to have shielded it from the worst of these challenges, allowing it to edge ahead of its American rival, Tesla.
Some experts also believe that the polarizing political comments from Tesla CEO Elon Musk may be affecting the company's sales in the region. Despite these challenges, Tesla's strong start to the year ensures it remains the dominant force in the EV market, though competition is intensifying.
Edited by Harshajit Sarmah
