Tesla Inc. (NASDAQ:TSLA) experienced a sharp decline in UK vehicle registrations in February, with sales falling 45.2% year over year to 2,208 units, according to figures released Wednesday by New Automotive.
In contrast, Chinese electric vehicle manufacturer BYD Company Limited (USOTC:BYDDY) expanded its presence in the UK market, posting a 40.9% rise in sales to 968 vehicles during the same month. Despite the gain by BYD, Tesla remained the top-selling brand among electric vehicles in the country.
The research group noted that Tesla’s delivery cycles can produce large monthly swings. Even so, its cumulative sales so far this year are about 5% lower than the same period last year, a trend that could attract closer attention from industry observers.
Electric vehicles continued to strengthen their share of the UK market. Battery electric models accounted for roughly 25% of all cars sold in February, while about one in three newly registered vehicles included a plug-in powertrain.
“It’s fantastic to see one in four drivers opting for an electric car in February,” said Ben Nelmes. “As we enter yet another fossil fuel price crisis, every electric vehicle represents another step towards energy independence.”