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BMW Group led the European all-electric vehicle (BEV) market for the first time last month, surpassing Tesla in deliveries, as the German automaker continues its strong growth streak even as other automakers struggle.

On Thursday (August 22), automotive market research company JATO Dynamics released a data report for 28 European markets. Specifically, new car registrations in Europe in July increased by 1.5% year-on-year to 1.03 million, and the registrations so far this year are close to 7.9 million.

At the same time, the number of electric vehicle registrations last month was 139,300, a year-on-year decrease of 6%, and the market share also dropped from 14.6% in the same period last year to 13.5%.

“The lack of clarity on incentives and the future of electric vehicles (in Europe) continues to hamper consumer purchases,” wrote Felipe Munoz, JATO’s global senior analyst. “These factors, combined with low residual values ​​for electric vehicles, led to the decline in July.”

Source: JATO Dynamics official website

In the pure electric vehicle market in July, BMW's registrations increased by 35% year-on-year to 14,869 units, making it the best-selling brand in Europe that month. Tesla's sales fell by 16% year-on-year to 14,561 units, losing the title by a narrow margin of 308 units.

The JATO report noted that although Tesla Model Y and Model 3 continue to dominate the full-year rankings in 2024, they have recently declined. This has led to its market share in Europe being eroded by local companies such as BMW and Volvo.

After countries such as Germany and Sweden stopped or cut subsidies, some car companies have scaled back their electric vehicle ambitions. Volkswagen said this month that it is reducing production capacity at its high-cost factories in Germany, and it is reported that it has postponed the release of its electric car model "Trinity". Mercedes-Benz is also scaling back its electrification and battery plans.

JATO pointed out that BMW's rise against the trend is mainly due to the strong demand for electric vehicle models such as i4 and iX1, which have surpassed the sales of Mercedes-Benz and Audi models of the same size. In addition, Tesla may continue to be under pressure given that the EU may impose anti-subsidy duties later this year.

In addition, there is another factor that cannot be ignored, that is Tesla CEO Elon Musk. Earlier this month, German daily chemical chain supermarket giant Rossmann announced that it would "immediately" suspend the purchase of Tesla cars, and it was the first European company to stop purchasing Tesla cars due to its political stance.

At the time, Rossmann also issued an official statement explaining that Musk's remarks were incompatible with the values ​​represented by his products. "Musk has made no secret of his support for Trump, and Trump has repeatedly called climate change a hoax. This attitude is completely contrary to Tesla's mission."

German software giant SAP stopped providing Teslas as company cars to employees because Musk's repeated price cuts increased uncertainty. Some European car rental companies are asking Tesla to provide more unofficial discounts as frequent price cuts hit the asset value of rental companies.