FYI: In June, the landscape of plug-in electric car sales in Europe witnessed a notable decline despite an overall market uptick.
Electric Car Sales See a Drop in June Despite Overall Market Growth
In June, plug-in electric car sales in Europe experienced another decline, even though the broader automotive market saw a 4% increase.
According to data from EV Volumes, analyzed by researcher Jose Pontes, Europe registered 293,588 new plug-in electric cars in June. This marks a 5% drop compared to the same period last year. The market share for electric vehicles was 22%, down from 25% a year prior, highlighting a concerning trend in the region’s electrification efforts.
A Stagnant Year for Plug-In Electric Cars
With over 1.4 million new plug-in cars registered in Europe during the first half of the year, the market remains flat in comparison to the first half of 2023. There’s hope that the second half of the year will bring some recovery and improvement.
Hybrid Vehicles on the Rise
Interestingly, the segment that has shown substantial growth is non-rechargeable hybrids. Registrations for these vehicles leaped by 24% year-over-year, capturing 30% of the market share. This makes hybrids the only growing segment in the market presently.
All-Electric and Plug-In Hybrid Market Dynamics
All-electric car registrations remained stagnant, holding a 16% market share. The cessation of subsidies for EVs in Germany at the end of the previous year seems to have caused this slowdown. As the market stabilizes, there is cautious optimism that growth will resume in the latter part of the year.
In contrast, plug-in hybrid electric vehicle (PHEV) registrations fell by 15% year-over-year. The future for PHEV sales remains uncertain, as both all-electric vehicles (EVs) and hybrids add competitive pressure on this segment.
Breakdown of June Plug-In Car Registrations:
- Battery Electric Vehicles (BEVs): Approximately 213,000 (no change) with a 16% market share
- Plug-in Hybrid Electric Vehicles (PHEVs): About 80,000 (down 15%) with a 6% market share
- Total Plug-In Vehicles: 293,588 (down 5%) with a 22% market share
Historical Context and Competitive Analysis
In a broader perspective, 2023 saw over 3 million passenger plug-in electric cars registered in Europe, reflecting a 16% growth over 2022. Market share stood at 24%, showing steady year-over-year growth, moving from 23% in 2022, 19% in 2021, and 11% in 2020.
Top Performers in June
Tesla had a strong month, with the Tesla Model Y and Model 3 recording 23,869 and 20,829 registrations, respectively. This performance aligns with the robust end of the quarter for Tesla. The MG 4 and Volvo EX30, both made in China, saw a surge in sales ahead of anticipated tariffs.
The Volkswagen ID.3 also made headlines by finishing fourth in June, surpassing the ID.4 in year-to-date rankings.
June’s Top Models:
- Tesla Model Y: 23,869
- Tesla Model 3: 20,829
- MG 4: 9,877
- Volkswagen ID.3: 9,661
- Volvo EX30: 9,420
- Audi Q4 e-tron: 7,754
- Volkswagen ID.4: 6,963
- Skoda Enyaq iV: 5,688
- BMW iX1: 5,210
- Volvo XC60 PHEV: 4,632
Strong First Half for Leading Models
For the first half of the year, the Tesla Model Y leads with 102,730 registrations, followed by the Tesla Model 3 and Volvo EX30.
January-June 2024 Results:
- Tesla Model Y: 102,730
- Tesla Model 3: 60,403
- Volvo EX30: 39,652
- Audi Q4 e-tron: 35,863
- MG 4: 32,645
- Volvo XC60 PHEV: 29,268
- Skoda Enyaq iV: 29,169
- Volkswagen ID.3: 28,982
- Volkswagen ID.4: 28,080
- Volvo XC40: 25,538 (24,071 BEVs + 1,467 PHEVs)
Market Share Dynamics among Brands and Groups
Tesla maintains its position as the foremost all-electric and plug-in car brand in Europe, holding an 11.4% share in the first half of the year. This is a slight decline from last year’s 13.1%.
Premium brands such as BMW, Mercedes-Benz, and Volvo mirror the trend towards luxury electrification.
Top Brands by Share (January-June):
- Tesla: 11.4%
- BMW: 9.9%
- Mercedes-Benz: 8.8%
- Volvo: 8.6%
- Volkswagen: 6.5%
- Audi: 6.5%
Top Automotive Groups by Share (January-June):
- Volkswagen Group: 20.2%
- Tesla: 11.4%
- Stellantis: 11.2%
- BMW Group: 10.7%
- Geely-Volvo: 10.6%
- Mercedes-Benz Group: 9.1%
Conclusion
As we move past the first half of 2024, the European plug-in vehicle market remains in flux. While non-rechargeable hybrids are surging, all-electric and plug-in hybrid vehicles face significant challenges. The industry keenly watches for signs of recovery in the latter half of the year.
For more insights and updates, reach out to us at tips@automotive.fyi or follow us on Twitter @automotivefyi.
William Kouch, Editor of Automotive.fyi
