Despite Slump In New Registrations, Tesla Touches 1M Vehicle Delivery Milestone In Europe

EV giant Tesla Inc TSLA said on Friday that it has touched 1 million vehicles across Europe after 14 years of delivering its first vehicle.

What Happened: The new milestone is despite new Tesla car registrations slumping nearly 10% in September. According to industry data, 23,834 new Tesla vehicle were registered last month as compared to the 26,436 vehicles registered in September last year. The company’s market share subsequently dropped to 2.8% last month.

The drop in sales was despite an overall surge in EU battery electric car registrations by 14.3%. About 127,149 pure EVs were registered last month in the geography.

Why It Matters: New vehicle registrations have been increasing in Europe for the fourteenth consecutive month now. Gas continues to be the leading choice for most new vehicle buyers, seconded by hybrid electric vehicles, according to the European Automobile Manufacturers Association.

German automaker Volkswagen, Chrysler parent Stellantis NV and Renault Group marked significant jump in new car registrations in September. Ford Motor Co, Mitsubishi, and Tesla are the sole three to witness a drop.

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

Read More: Elon Musk Laughs Off Analyst’s Remark Who Said Tesla Is ‘Looking Like A Regular Auto Company’

Photo via Shutterstock