BMW Overtakes Tesla as Europe’s Best-Selling EV Brand in July 2024

Introduction

In a surprising turn of events, BMW has emerged as the top-selling electric vehicle (EV) brand in Europe for the month of July 2024, surpassing Tesla by a narrow margin. This achievement marks a significant milestone for BMW, with a 35 percent year-on-year increase in sales and their first-ever lead over Tesla in the European EV market.

Key Highlights

• BMW sold 14,869 EVs in July, outperforming Tesla in Europe.
• European car sales grew by 2% in July, but EV registrations fell by 6% to 139,300.
• The Dacia Sandero was the top-selling car overall, while Volkswagen emerged as the leading brand.

BMW’s Success in the European EV Market

BMW’s impressive performance in July’s EV sales can be attributed to the success of their models, such as the iX1 SUV and the recently facelifted i4 Gran Coupe. These models, along with other electric offerings from BMW, have surpassed rival offerings from Audi and Mercedes. This achievement demonstrates BMW’s commitment to the EV market and their ability to meet the growing demand for electric vehicles in Europe.

Tesla Retains Best-Selling EV Title

Although BMW claimed the top spot in EV sales, Tesla retained the title for the best-selling EV brand in Europe. The Tesla Model Y secured the highest number of registrations with 9,544 units sold. The all-new Volvo EX30 secured the second spot, followed by the VW ID.4 and Tesla Model 3. Despite losing the top sales position, Tesla’s dominance in the EV market remains strong.

Challenges in the European EV Market

The European EV market faced challenges in July, with a 6 percent drop in EV sales compared to the previous year. This decline can be attributed to factors such as the lack of clarity around incentives for EVs and the future of EVs, as well as the low residual value of EVs. These factors have presented barriers to consumers considering an EV, impacting the overall sales performance in the market.

Conclusion

BMW’s achievement of surpassing Tesla as Europe’s best-selling EV brand in July 2024 is a significant milestone for the German automaker. It highlights their commitment to the EV market and their ability to meet the growing demand for electric vehicles in Europe. However, Tesla’s continued dominance in the EV market and the challenges faced by the European EV market indicate the need for further developments and incentives to drive EV adoption in the region.