A diverse EV lineup from BMW managed to outpace Tesla's sales across Europe in July, a reflection of the growing competition in the electric vehicle market.
Tesla has been the leading electric vehicle manufacturer for years, with technology and sales ahead of the competition–until now. In July, the overall
Volkswagen Group, with the VW, Audi, Skoda and Cupra brands, is the bestselling European EV automaker today by some margin. Tesla falls behind Hyundai-Kia, and Stellantis’ Peugeot, Vauxhall, Citreon and Opel in most markets across Europe too.Part of BMW’s success is that Tesla only sells two cars in volume – the Model Y and Model 3. In contrast, BMW has a growing range with a confusing list of names: the iX1, iX2, iX3, iX, i5, and i7.
Tesla’s sales are cyclical. If you’ve been watching the market over the last few years, there’s usually a Tesla sales push at the end of a quarter, so the final month of each one posts bumper shipments. Looking back at June 2024 figures for the UK, for example, Tesla had 20% of the EV market and BMW just 11%. In Europe, Tesla had 17% of the BEV market to BMW’s 10%. So, in reality, the July results are the calm after the June sales storm., selling 1.23 million units, beating the Toyota RAV4’s 1.
BMW also has new tricks up its sleeve–most of its new vehicles share their design with traditional fossil-fuel options. This is the company hedging its bets during this transitional period. BMW even has an experimental hydrogen-powered version of the X5 undergoing global testing. To paraphrase Mark Twain, reports of Tesla’s death are an exaggeration because sales are still extremely healthy despite recent falls. But it’s clear the gap between it and other automakers has narrowed, with Chinese companies also catching up fast.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BMW overtakes Tesla in European EV sales for first time, report saysBMW led the European battery electric vehicle (BEV) market for the first time, beating U.S. automaker Tesla, according to market research firm JATO Dynamics....
Read more »
Elon Musk on Trump’s team isn’t good for Tesla: InvestorGerber Kawasaki CEO Ross Gerber, a well known Tesla shareholder, has not held back his criticisms of Elon Musk, both in his handling of Twitter—now X—and his...
Read more »
Elon Musk, Donald Trump and X: Why Tesla investors are in a quagmireTesla investors have a lot coming at them.
Read more »
Tesla's Elon Musk advises against vilifying oil and industryTesla (TSLA) CEO Elon Musk spoke with former President Donald Trump in a livestream on X (which Musk also owns). The EV executive warned against vilifying...
Read more »
Why this Tesla investor and Elon Musk supporter is buying the stock dipTesla shares have bee hammered along with the rest of the tech space.
Read more »
Why Trump won’t crush Tesla and Elon MuskWith November rapidly approaching, every sector has eyes on the election. A historic Harris presidency compared to another Trump presidency would impact...
Read more »