Tesla Accounted For 31% Of All EVs Registered In UK In June

Tesla Inc TSLA topped the electric vehicle registration market share in the United Kingdom in June, as per a report by Electrek.

What Happened: During the month, Tesla grabbed 31% of all EV registration share in the U.K., more than thrice than that of the nearest biggest rival Volkswagen AG VWAGY, the report noted — citing registration data. Ford Motor Company F accounted for 1.57% of all EVs registered in the month.

The Elon Musk-led electric vehicle maker registered 4,930 vehicles in June in the country this year, compared with 2,461 vehicles a year ago.

See Also: Elon Musk Visit Reignites Rumors Of Potential Tesla Manufacturing Facility In UK

In Q1 2021, Tesla delivered 7,304 electric cars in the U.K. — more than anywhere else in Europe. In Q2, the automaker delivered 7,767 vehicles, a bulk of which were shipped in June, as per the Electrek report.

Why It Matters: The U.K. is turning out to be an important market for Tesla and sales are expected to rise further once the automaker starts making the right-hand-drive Model Y.

The United Kingdom and Germany, which are part of the Group of Seven nations, have committed to banning new gas-powered vehicle sales by 2030.

Canada is the latest country among G7 nations to set tighter deadlines. Japan is currently targeting 2035, while France and the United States plan to ban sales by 2040. Italy is the only member of the G7 that has yet to make a commitment on this front.

Price Action: Tesla shares closed 0.14% higher at $678.90 on Friday. 

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