Tesla’s sales in the UK experience a significant surge, defying controversy surrounding Elon Musk’s political involvement. The company’s market share rises to 4.6%, driven by demand for battery-powered cars.
Almost 4,000 Teslas were sold in the UK in February, according to the Society of Motor Manufacturers and Traders (SMMT). This represents a 20.7% increase in sales year on year, with Tesla’s market share rising from 3.75% in February 2024 to 4.6% last month.
Tesla, Inc. has been selling electric vehicles (EVs) in the United Kingdom since 2013.
The company's first model to be sold in the UK was the Model S, followed by the Model X and Model 3.
According to data from the Society of Motor Manufacturers and Traders (SMMT), Tesla's sales in the UK have been steadily increasing over the years.
In 2020, Tesla reported a total of 18,833 vehicle registrations in the UK, making it one of the top-selling EV brands in the country.
The overall market declined by 1%, with 84,054 new registrations. However, sales of full electric vehicles (EVs) rose almost 42% year on year, accounting for a quarter of all new registrations. This surge in demand is largely due to buyers seeking to beat a new tax on expensive cars that comes into force in April and will affect many EVs for the first time.
Despite the threat of a consumer backlash over Elon Musk‘s controversial behavior since becoming a key figure in Donald Trump‘s administration, Tesla’s sales in the UK have not yet been affected. However, there has been some evidence that Musk’s interventions in European political affairs and his senior role in Trump’s administration are leading to a consumer backlash by some Tesla owners or prospective buyers.
Tesla, Inc. was founded in 2003 by Elon Musk, JB Straubel, Martin Eberhard, and Marc Tarpenning with the goal of popularizing electric vehicles (EVs).
Under Musk's leadership, Tesla has become a pioneer in sustainable energy solutions.
The company's first car, the 'Tesla Roadster' , was launched in 2008 and boasted an all-electric powertrain.
Since then, Tesla has expanded its product line to include the Model S, Model X, Model 3, and Model Y.
Musk's vision for a carbon-neutral future has driven Tesla's innovation, with over 1 million vehicles delivered worldwide as of 2022.
In Europe, sales of new Tesla cars almost halved in January, according to data from the European Automobile Manufacturers’ Association. This pushed the carmaker’s market share down to 1%. In China, early numbers for February indicate a 49% fall in exports and retail sales, although analysts say this is likely to have been affected by Tesla’s Model Y changeover as it gives the model an updated design.
Tesla has been expanding its presence in Europe and China, with a significant increase in sales and production.
In Europe, Tesla has established several Supercharger stations and service centers, making it easier for customers to own and maintain their vehicles.
In China, Tesla has partnered with local companies to produce the Model 3, reducing costs and increasing efficiency.
According to reports, 'over 200%' in recent years.
The company has also received significant government subsidies for its electric vehicle production in China.
Analysts at Morgan Stanley attributed the weaker sales to a ‘buyers’ strike.’ After a jump following Trump’s election win, Tesla’s market value has dropped back to the level it was at the US presidential election in November. However, its shares are currently up 45% over the last year.
However, preliminary data for February indicates a rebound with sales of about 42,000 cars, up 14% year on year, according to Wards Intelligence.
