Elon Musk's Tesla Bounces Back In UK With 21% Growth In Registrations In February After January Slump

American EV giant Tesla Inc. TSLA witnessed 3,852 new car registrations in the UK in February, marking a growth of 21% from the corresponding month of 2024.

What Happened: According to data from the Society of Motor Manufacturers and Traders (SMMT), Tesla registrations rose and so did overall battery electric vehicle registrations. BEV registrations jumped by nearly 42% last month, grabbing a nearly 25% market share while petrol and diesel vehicle registrations fell 17% and 15%, respectively.

Overall, new car registrations fell by 1% to 84,054 units.

The most popular car brand in the UK continued to be Volkswagen in February, seconded by BMW. While over 8000 vehicles of Volkswagen were registered, BMW registrations in the month neared 5000 units.

The top car model in February was the Mini Cooper, followed by the Tesla Model 3 and Model Y.

Why It Matters: The rise in registrations for Tesla in February follows a slump in January in both the EU and the UK. Tesla witnessed a drop of over 50% in new car registrations in January in the European Union despite battery electric vehicle registrations rising during the period, according to data from the European Automobile Manufacturers Association (ACEA).

The auto industry body said that 7,517 new Tesla cars were registered in the EU in January, down from 15,130 in 2024.

In the UK, Tesla had 1,458 registrations in January, down from the 1,581 registered in the corresponding month of 2024, according to SMMT data.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read Next: