History: BMW dethrones Tesla in electric vehicles in Europe in July

Thunderbolt with the performance of BMW which sold more electric cars in Europe in July 2024 than Tesla.

In July 2024, BMW achieved a historic performance by surpassing Tesla in terms of electric car sales in Europe. With 14,869 zero-emission vehicles sold, the Bavarian firm outperformed the American giant, which recorded 14,561 sales. This result marks a turning point in the electric vehicle market, where BMW continues to gain ground with the introduction of new models such as the iX1 and i4. Although Tesla has remained the leader since the beginning of the year, this change reflects heightened competition and a rapidly evolving market.

Tesla’s problem remains the same: a castle resting on only two cards, the Model Y and Model 3. However, the latter has stalled in July 2024 due to the price increase related to the rise in tariffs imposed on vehicles produced in China (the Model 3 is produced in Shanghai).

And the confidential sales of the Model S and Model X cannot support the structure. Tesla remains afloat by discounting its Model Y, but how much longer will this solution last? Notice, there is still some fat around the bone since the Model Y is currently sold for under 30,000 euros in Spain, compared to 36,990 euros in France.

BMW superstars

The European market in July was slightly sluggish despite an overall volume increase of 2% compared to July 2023. However, in detail, France declined by 2%, as did Germany. -7% for Belgium, due to the vacation effect. The United Kingdom, Poland, Portugal, Italy, and Spain are all up, however, which supported demand with 1.03 million cars sold across all powertrains.

More specifically, the European electric car market contracted by 6% year-on-year, mainly due to the disappearance of the ecological bonus in Germany at the end of 2023. About 140,000 vehicles were registered, accounting for 13.5% of the market. BMW is thus the leading manufacturer with a 35% increase year-on-year, followed by Tesla, Volkswagen, Volvo, and Audi. Renault and brands from the Stellantis group are absent from this top 5, and no French car is in the European top 10. Worrying!

Mercedes is 6th, Peugeot 7th, Hyundai 8th, KIA 9th, Renault 10th.

BMW, whose cars are all more expensive than Teslas, thus achieves a real feat. Its strategy relies on a multiplication of models to appeal to every possible customer. SUVs, sedans, limousines, crossovers, there is something for everyone.

In contrast, the Tesla Model Y sees its sales plummet by 16% compared to July 2023, despite historically low prices. Is there a problem? Well, since January 1, 2024, Tesla has nevertheless sold 178,700 cars in Europe, compared to 97,500 BMW electric cars and 88,500 Volkswagen electric cars.

But beware, the lead can quickly evaporate under the sun. That’s the way of history; Tesla was not going to remain atop the mountain forever. The question remains how the descent… or the fall will transpire.

ALSO READ: Tesla Cybertruck: due to a lack of customers, the resale clause disappears