News - BMW overtakes Tesla in European electric car market for first time

BMW led the European battery electric vehicle (BEV) market for the first time, beating US automaker Tesla, according to market research firm JATO Dynamics, reports Reuters. The German auto giant sold 14,869 BEV cars in July, about 300 more than Tesla last month. Tesla, the world's most valuable automaker, remains the dominant player, but traditional automakers such as BMW and Volvo are gaining ground due to uncertainties surrounding electric vehicle (EV) subsidies and incentives. CEO Elon Musk's polarizing persona has also been influencing sentiment toward Tesla, according to some reports. BMW reported a 35% jump in sales last month from a year earlier, while Tesla saw registrations fall 16%, the report said. About 139,300 new electric cars were registered last month, down 6% from July 2023, according to the report.