According to a study by Electrek, Tesla Inc (NASDAQ: TSLA) topped the electric vehicle registration market share in the United Kingdom in June.
What Happened: According to the survey, Tesla accounted for 31% of all EV registrations in the United Kingdom during the month, more than triple that of its nearest competitor Volkswagen AG (OTC: VWAGY). 1.57 percent of all electric vehicles registered in the month came from Ford Motor Company (NYSE: F).
In June of this year, the Elon Musk-led electric vehicle manufacturer registered 4,930 vehicles in the country, up from 2,461 vehicles a year before.
Also see: Elon Musk’s visit reignites speculation about a Tesla manufacturing facility in the United Kingdom.
Tesla delivered 7,304 electric cars in the United Kingdom in Q1 2021, more than anyplace else in Europe. According to the Electrek article, the carmaker delivered 7,767 vehicles in Q2, the majority of which were delivered in June.
Why Does It Matter? The United Kingdom is proving to be a significant market for Tesla, and sales are likely to increase once the right-hand-drive Model Y is introduced.
The United Kingdom and Germany, both members of the Group of Seven, have agreed to prohibiting the sale of new gas-powered vehicles by 2030.
Canada is the latest G7 countries to impose stricter deadlines. Japan has set a deadline of 2035, while France and the United States have set a deadline of 2040. Italy is the only G7 country that has not made a commitment on this issue.
Price Changes: On Friday, Tesla shares closed 0.14 percent higher at $678.90.
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