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Tesla’s UK sales rise despite threat of backlash over Musk’s political role Tesla’s UK sales rise despite threat of backlash over Musk’s political role
(32 minutes later)
Sales of battery-powered cars jumped in February, with Model 3 and Model Y most popular after Mini CooperSales of battery-powered cars jumped in February, with Model 3 and Model Y most popular after Mini Cooper
Sales of Teslas in the UK rose by more than a fifth last month as demand for battery-powered cars increased, despite the prospect of a buyer backlash over Elon Musk’s controversial and divisive behaviour since becoming a key figure in Donald Trump’s administration.Sales of Teslas in the UK rose by more than a fifth last month as demand for battery-powered cars increased, despite the prospect of a buyer backlash over Elon Musk’s controversial and divisive behaviour since becoming a key figure in Donald Trump’s administration.
Almost 4,000 Teslas were sold in the UK in February, with the Model 3 and Model Y proving the second and third most popular after the Mini Cooper, according to the latest new car registration figures from the Society of Motor Manufacturers and Traders (SMMT).Almost 4,000 Teslas were sold in the UK in February, with the Model 3 and Model Y proving the second and third most popular after the Mini Cooper, according to the latest new car registration figures from the Society of Motor Manufacturers and Traders (SMMT).
Sales of Teslas were up 20.7% year on year, lifting the company’s market share from 3.75% in February 2024 to 4.6% last month, suggesting Musk’s actions have not yet hurt the electric vehicle maker in the UK. The overall market declined by 1%, with 84,054 new registrations. Tesla sales were up 20.7% year on year, lifting the company’s market share from 3.75% in February 2024 to 4.6% last month, suggesting Musk’s actions have not yet hurt the electric vehicle maker in the UK. The overall market declined by 1%, with 84,054 new registrations.
The SMMT said that sales of full electric vehicles rose almost 42% year on year, accounting for a quarter of all new registrations, because buyers are seeking to beat a new tax on expensive cars that comes into force in April and will affect many EVs for the first time.The SMMT said that sales of full electric vehicles rose almost 42% year on year, accounting for a quarter of all new registrations, because buyers are seeking to beat a new tax on expensive cars that comes into force in April and will affect many EVs for the first time.
There has been some evidence that Musk’s interventions in European political affairs and his senior role in Trump’s administration is leading to a consumer backlash by some Tesla owners or prospective buyers. 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.
The tech billionaire and close Trump adviser has shown support for Germany’s far-right AfD party, theatrically brandished a “chainsaw of democracy” at a conservative conference, and accused Keir Starmer and other senior politicians of covering up the scandal about grooming gangs.The tech billionaire and close Trump adviser has shown support for Germany’s far-right AfD party, theatrically brandished a “chainsaw of democracy” at a conservative conference, and accused Keir Starmer and other senior politicians of covering up the scandal about grooming gangs.
Sales of new Tesla cars almost halved in Europe in January, according to data from the European Automobile Manufacturers’ Association, pushing the carmaker’s market share down to 1%.Sales of new Tesla cars almost halved in Europe in January, according to data from the European Automobile Manufacturers’ Association, pushing 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 affected by Tesla’s Model Y changeover as it looks to give the model an updated design. 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.
Analysts at Morgan Stanley attributed the weaker sales to a “buyers’ strike”.Analysts at Morgan Stanley attributed the weaker sales to a “buyers’ strike”.
After jumping after Trump’s election win, Tesla’s market value has now dropped back to levels seen at the US presidential election in November, although overall the company’s shares currently remain up 45% over the last year. 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, although its shares are currently up 45% over the last year.
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However, while sales in the US also fell in January, preliminary data for February indicates a rebound with sales of about 42,000 cars, up 14% year on year, according to Wards Intelligence.However, while sales in the US also fell in January, preliminary data for February indicates a rebound with sales of about 42,000 cars, up 14% year on year, according to Wards Intelligence.
Mike Hawes, the chief executive of the SMMT, warned against reading too much into the UK’s February figures, given it is the smallest month of the year for new car registrations. Mike Hawes, the chief executive of the SMMT, cautioned against reading too much into the UK’s February figures, given it is the smallest month of the year for new car registrations.
“The good news is that electric car uptake is increasing, albeit at huge cost to manufacturers in terms of market support,” Hawes said. “It is always dangerous, however, to draw conclusions from a single month, especially one as small and volatile as February.”“The good news is that electric car uptake is increasing, albeit at huge cost to manufacturers in terms of market support,” Hawes said. “It is always dangerous, however, to draw conclusions from a single month, especially one as small and volatile as February.”