BMW's European electric car sales surpassed Tesla for the first time in July
BMW's electric car sales in July exceeded Tesla's for the first time, reaching 14,869 units, an increase of about one-third, while Tesla's sales dropped by 16% to 14,561 units. Strong consumer demand mainly came from BMW's i4 and iX1 models. However, the overall market is still led by Tesla. Electric car sales in Europe declined in July to 139,300 units, down 6% year-on-year, due to subsidy cuts and uncertain prospects. Analysts point out that incentive mechanisms and the depreciation of electric cars are the main obstacles for consumers
According to the information obtained from Zhitong Finance APP, in July, BMW (BMWYY.US) surpassed Tesla (TSLA.US) for the first time in electric vehicle sales in EU countries. Data compiled by consulting firm Jato Dynamics shows that in July this year, BMW's pure electric vehicle sales in the EU surged by about one-third to 14,869 units, while Tesla's electric vehicle sales dropped by 16% to 14,561 units. Strong demand from consumers for electric vehicles such as i4 and iX1 was one of the main reasons for BMW's strong performance in July. However, Tesla still leads in overall sales so far this year.
After stopping or reducing electric vehicle subsidies in countries like Germany and Sweden, demand for electric vehicles in Europe is cooling down. German automaker Volkswagen announced this month that it will cut production capacity at high-cost factories in Germany and may delay the launch of new electric vehicle models. Mercedes-Benz is also adjusting its electrification plans.
Data shows that European car buyers registered a total of 139,000 new electric vehicles in July, a 6% decrease from the same period last year. Jato analyst Felipe Munoz stated, "Incentives for electric vehicles and a lack of clarity about the future continue to be obstacles for consumers. These factors, along with the lower residual value of electric vehicles, led to the decline in electric vehicle sales in July."