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The electric vehicle race in Europe has taken an unexpected turn, as BMW has dethroned Tesla as the top-selling EV brand.
The German automaker sold 14,869 electric vehicles, representing a remarkable 35% year-over-year increase, narrowly edging out Tesla, which registered 14,561 vehicles during the same period.
Overall, the European automotive sector experienced growth, with 1.03 million vehicles registered in July, up 2% compared to the previous year, according to new data from Jato Dynamics. However, this growth was not uniform; sales slipped in major markets such as Germany (-2%), France (-2%), and Belgium (-7%). Despite these declines, other European markets, like Italy (+5%) Spain (+5%) and the UK (+3%) helped drive the overall increase in registrations.
This turn of events for BMW could be attributed to several factors, including an aging Tesla model lineup, with only the Model 3 revamp and Cybertruck being relatively new, while the Model Y refresh is still months away. In contrast, BMW has recently expanded its EV offerings with models like the i4 and iX1, which ranked among the top-selling EVs in Europe.
While Tesla lost its top spot in July, it remains the dominant player in the European EV market year-to-date, having sold 178,700 vehicles through July 2024, ahead of BMW’s 97,525 and Volkswagen’s 88,445. Data from Jato Dynamics also shows that the Model Y remains the best-selling individual EV model in Europe, with 9,544 registrations in July, despite a 16% year-over-year decline.
The shift in market leadership coincides with a broader trend of falling EV prices, which are bringing electric vehicles closer to parity with traditional gas-powered cars.
As the EV market matures, further shifts in market share and increased competition are expected. Tesla’s upcoming Model Y refresh and the potential introduction of a more affordable Model 3 could help the company regain its footing.
