Tesla sees UK vehicle registrations up 1436% YoY – Tesla…

Tesla sees UK vehicle registrations up 1436% YoY – Tesla…

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Tesla Inc TSLA The company saw a 1,436.4% year-on-year increase in new vehicle registrations in the UK last month, according to industry data.

What happened: According to data published by the UK new car registrations Society of Automobile Manufacturers and Dealers (SMMT), 1,813 new Tesla cars were registered last month, compared to 118 in April 2022. Tesla’s market share also rose to 1.36% last month, compared to just 0.1% last year.

132,990 new vehicles were registered in the UK last month, with petrol remaining the most popular fuel choice. Gasoline vehicles saw new registrations increase by 4.1%, while diesel vehicles saw a 13.4% slump.

However, electric vehicles have become increasingly popular. 20,522 new battery electric vehicles were registered during the month, an increase of 59.1%. Registrations of plug-in hybrid electric vehicles increased by 33.3% and hybrid electric vehicles by 7.7%.

British car production also rose 9.9%, with 66,527 cars coming onto the market compared to 5,973 last April. The increase in production numbers could be due to the easing of supply chain bottlenecks, SMMT noted. Exports increased in double digits by 14.7% to 54,820 units.

Why it matters: Despite increasing registrations, none of the Tesla models were among the bestsellers of the month. Tesla Model Y was the bestseller in the UK in March. Last month however Ford engine co‘S f puma took the lead with 3,570 new registrations.

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Continue reading: Tesla gets price target increases from analysts after Q1 manufacturing data



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