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Tesla remains the most popular EV.
April 6, 2024 in 11am (Eastern Standard Time)
Sales of plug-in electric vehicles in Europe rose about 10% year-on-year in February, in line with general market growth. It is difficult to expect further growth in this sector as it has been affected by incentive reductions in several markets.
according to EV volume According to data shared by researcher Jose Pontes, 202,542 new plug-in electric vehicles were registered in Europe in February. Market share was approximately 20% (no change from February 2023).
2024 should be a better year than 2023
In 2023, more than 3 million plug-in electric vehicles were sold in Europe (24% of the total market). Sales are expected to increase at least slightly in 2024.
All-electric vehicle registrations account for approximately 13% of the market, and plug-in hybrid vehicle registrations account for approximately 7% of the market.
In addition to this, non-rechargeable hybrids gained a solid 29% share, an increase of 24% year-on-year. Approximately 42% of new cars sold in Europe in February were electric vehicles (BEV, PHEV, HEV).
Number of plug-in car registrations in February (compared to the previous year):
- BEV: Approximately *132,000, market share 13%
- PHEV: Approximately 71,000 units, market share 7%
- Total: 202,542 (10% increase), market share 20%
*Estimated based on market share
In the first two months of this year, more than 400,000 plug-in electric vehicles were registered in Europe, representing around 20% of the total market.
Number of plug-in car registrations from January to February (compared to the previous year):
- BEV: Approximately 262,000 units, market share 13%
- PHEV: Approximately 141,000 units, market share 7%
- Total: 403,691 (18% increase), market share 20%
*Estimated based on market share
For reference, in 2023, more than 3 million passenger plug-in electric vehicles will be registered in Europe, an increase of 16% over 2022. Market share reached 24% (23% in 2022, 19% in 2021, compared with 11% in 2020).
The Tesla Model Y remains the best-selling plug-in model in Europe, with approximately 20,000 new registrations in February. The Tesla Model 3 is the best of the rest, with over 8,000 units sold.
Most interestingly, Volkswagen ID.3 and ID.4 are not in the top 10 (19th and 20th respectively), although several other models clocked around 5,000 units.
This month’s results:
- Tesla Model Y – 19,946
- Tesla Model 3 – 8,120
- Peugeot e-208 – 5,319
- Volvo XC40 – 5,034 (BEV 4,808 + PHEV 226)
- MG4 – 4,990
- Skoda Enyak iV – 4,270
- Volvo XC60 PHEV – 4,251
- Audi Q4 e-tron – 3,914
- Volvo EX30 – 3,675
- BMW i4 – 3,638
After the first two months of this year, the two Tesla models have significant advantages over other plug-ins.
Results for January-February 2024:
- Tesla Model Y – 31,410
- Tesla Model 3 – 14,815
- Volvo XC40 – 9,585 (BEV 9,169 + PHEV 416)
- Skoda Enyak iV – 9,124
- Audi Q4 e-tron – 8,895
- Peugeot e-208 – 8,594
- MG 4 – 8,391
- Volvo XC60 PHEV – 8,328
- BMW i4 – 7,127
- Ford Kuga PHEV – 6,565
Tesla is also the most popular brand in the plug-in car segment, slightly ahead of BMW and Mercedes-Benz.
In terms of automotive groups, the Volkswagen Group is the sole leader with a share of 19.5%, followed by Stellantis (12.2%) and Tesla (11.6%).
Top brands in the plug-in segment from January to February:
- Tesla – 11.6%
- BMW – 10.2%
- Mercedes-Benz – 8.7%
- Volvo – 8.1%
- Audi – 7.2%
- Volkswagen – 5.1%
Automotive groups with top shares in the plug-in segment from January to February:
- Volkswagen Group – 19.5%
- Stellantis – 12.2%
- Tesla – 11.6%
- BMW Group – 10.9%
- Geely-Volvo – 9.9%
- Mercedes-Benz Group – 9.2%
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