Tesla Faces Market Share Drop In The UK Despite Rising EV Sales — Model Y Popularity Sees A Dent

EV giant Tesla Inc TSLA saw its market share slump in September as compared to a year ago and its car slip out of the best-seller list in the United Kingdom.

What Happened: As per data from the Society of Motor Manufacturers and Traders (SMMT),  only 6,427 new Tesla vehicles were registered last month compared to the 9,975 vehicles registered in September 2022, marking a slump of 35.6%.

The EV maker’s market share fell to a mere 2.36% and its bestselling Model Y slipped out of the list of top ten bestselling cars in the geography. Nissan Qashqai was the bestseller in the UK last month, followed close at heel by the Ford Puma. The Tesla Model Y, however, continues to be on the year-to-date bestseller list at the fourth position with 28,177 new cars registered since the start of the year.

Why It Matters: The Model Y was featured on the top ten bestseller cars in the UK every month of this year except for January, April and September.

However, all in all, EV registrations in the geography rose last month. 272,610 new vehicles were registered, of which 45,323 vehicles were purely battery-electric vehicles, marking a jump of 18.9% from last year in BEV registrations.

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