Markets: News  

By David Sachs

Tesla Inc.'s new car registrations in the European Union shot up in February as the company took a bigger chunk of the bloc's passenger car market compared with a year ago, according to figures released Tuesday by the European Automobile Manufacturers Association, known as ACEA.

ACEA said that Tesla's (TSLA) EU registrations, which reflect sales, rose to 19,249 this February from 12,860 in the prior period. That 50% jump outpaced every car company in the EU market, though brands like Stellantis NV's Alfa Romeo or Volkswagen AG's Cupra grew faster than Tesla last month.

The U.S. car maker accounted for 19.8% of the BEV--fully electric vehicle--market share in the EU, according to ACEA. In February last year, Tesla held an 18.5% share.

Tesla, which produces solely battery-powered vehicles, captured 2.4% of the total EU passenger car market last month, up from 1.8% the previous February, according to ACEA.

Write to David Sachs at david.sachs@wsj.com

-David Sachs

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March 21, 2023 04:32 ET (08:32 GMT)

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