Tesla Inc (NASDAQ:TSLA) experienced a significant increase in new vehicle registrations across the United Kingdom last month of 1,436.4% YoY, according to industry data by the Society of Motor Manufacturers and Traders (SMMT). In April 2023, 1,813 new Tesla cars were registered, compared to only 118 in April 2022, and the company’s market share rose from 0.1% to 1.36% over the same period.
While gasoline continues to be the most popular fuel choice in the UK, with a 4.1% growth in new registrations, diesel vehicle registrations decreased by 13.4%. Electric vehicles, on the other hand, saw an increase in popularity, with 20,522 new battery electric vehicles registered last month, representing a 59.1% YoY rise. Plug-in hybrid electric vehicle registrations rose 33.3%, and hybrid electric vehicles rose 7.7% during the same period.
British car manufacturing also increased, with 66,527 cars rolling out in April 2023, representing a 9.9% growth compared to the previous year. The rise in production numbers could be due to supply chain shortages easing, according to the SMMT. Furthermore, exports of these cars saw a 14.7% YoY increase in April, reaching 54,820 units.
Despite the increase in registration, none of Tesla’s models was among the bestsellers for the month. Tesla Model Y was the bestseller in the United Kingdom in March, but last month, Ford Motor Co’s Puma took over with 3,570 new registrations.
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For more related news, read Tesla Gets Price Target Bumps From Analysts Following Q1 Production Data.