Tesla Vehicle Registrations Rise In UK In August

Tesla Inc. (TSLA) vehicle registrations in the U.K. rose 7.6% year-on-year in August to 3,243 units, according to industry data.

According to data from the Society of Motor Manufacturers and Traders (SMMT), Tesla had a 3.9% market share last month, up from 3.56% in the corresponding month of 2024. Both of Tesla's lower-priced models -the Model Y SUV and the Model 3 sedan -featured in the top models in August, ranking third and fourth, respectively. Shares of the company traded 1% higher in the premarket session at the time of writing.

On Stocktwits, retail sentiment around Tesla stock fell from 'bearish' to 'extremely bearish' territory over the past 24 hours, while message volume stayed at 'normal' levels.

Overall, 82,908 cars were registered in the U.K. in August, marking a 2% decline, driven by fewer registrations of petrol, diesel, and hybrid electric vehicles. Battery electric vehicle registrations, however, increased by 15% year-over-year (YoY) to 21,969 units, reaching a 26.5% market share -the highest this year. SMMT, however, noted that August is usually the quietest month of the year.

Volkswagen (VWAGY) was the best-selling brand in the U.K. in August, with 7,866 vehicles registered, followed by Ford (F). The Ford Puma was the top model in the geography last month.  

“August was the best month yet this year for EV market share, and while it is often volatile due to low overall volumes, the overall trend is positive. September will be critical, with the new number plate factor typically driving around one in seven new car registrations for the year,” SMMT chief executive Mike Hawes said.

TSLA stock is down 17% this year but up approximately 52% over the past 12 months.

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