NASDAQ:TSLA 1 March 2026 - 20 March 2026

Tesla UK registrations dropped sharply in February—down 37.1% to 2,422 vehicles—even as total new-car registrations in Britain climbed 7.2% to 90,100, a level not seen for February since 2004. BYD, Tesla’s Chinese competitor, closed in fast, with its registrations soaring 83.0% to 2,154, nearly overtaking Tesla’s tally. The numbers undercut hopes for a wider European recovery. February registrations jumped—France up 55%, Spain surged 74%, Norway climbed 32%, per Reuters. Since late last year, Tesla’s offered cheaper Model Y and Model 3 options across Europe. Still, the UK figures point to a patchy rebound after Tesla’s European sales dropped 27% last year.

Tesla’s UK sales slumped 37% in February versus the same month last year, according to industry data out Thursday, as Chinese EV makers like BYD ramped up their presence. Tesla, for its part, pushed back, saying “monthly registration figures are not an accurate reflection of sales or orders taken” and arguing that quarterly trends offer a more reliable gauge. The fall came against a backdrop of broader market strength in the UK, with total registrations climbing 7.2% to 90,100 — the highest for February since 2004. Tesla’s share took a hit, sliding to 2.69% from 4.58%. BYD, on the other hand, saw registrations surge 83% to 2,154 vehicles, according to SMMT data.

UK new car registrations climbed 7.2% in February, hitting 90,100 units—marking the most active February since 2004, according to the Society of Motor Manufacturers and Traders on Thursday. Battery electric vehicles accounted for 24.2% of those registrations, though the year-to-date figure sits around 22%, trailing the 33% required by 2026. “EV uptake must accelerate rapidly,” said SMMT chief executive Mike Hawes. The gap is significant because the UK’s Zero Emission Vehicle mandate requires each automaker to hit yearly zero-emission registration targets, with the share for cars climbing to 33% in 2026. Under these rules, companies can bank, borrow, or trade allowances, though if they still fall short—even after using those options—they face a compliance payment of £12,000 per car starting in 2025, according to government documents.