Summary
– CleanTechnica offers daily news updates via email or Google News
– 226,000 plug-in vehicles were registered in Europe in May, down 10% YoY
– BEVs were down by 11% and PHEVs by 10%
– Volvo EX30 and Tesla Model 3 were top performers in May
– Volkswagen Group leads in market share with 20.1%
Article
In May, 226,000 plug-in vehicles were registered in Europe, marking a 10% decrease compared to the previous year. This decline was primarily attributed to Tesla, which experienced a 35% drop in deliveries. Both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) saw declines of 11% and 10% respectively. However, amidst this downturn, two standout models were the Volvo EX30 and the Tesla Model 3, which saw a 26% increase in sales due to a recent refresh. These models, both made in China, helped sustain the European EV market despite the challenges.
Plugless hybrids saw the fastest growth in May at 15%, representing 30% of the total market. The decline in traditional powertrains like petrol and diesel vehicles continued, with diesel vehicles now making up only 12% of the European passenger car market. Furthermore, the market share of plug-in vehicles in Europe reached 21% in May, with full electrics accounting for 14%. The Volvo EX30 emerged as a top contender alongside the Tesla Model 3, showcasing the growing shift towards electrification in the market.
In the top 5 plug-in vehicle rankings for May, the Tesla Model Y maintained its lead as the best-selling EV in Europe, despite a 49% YoY drop in registrations. The Volvo EX30 secured the 2nd spot with strong sales, while the Tesla Model 3 came in 3rd after experiencing a 26% increase in deliveries. Other models such as the Audi Q4 e-tron and VW ID.4 also made it to the top 5, reflecting the diverse range of offerings driving the EV market.
Looking at the overall ranking for 2024, the Tesla Model Y is set to win its 3rd Best Seller title in a row, with a significant lead over other models. However, the runner-up position held by the Tesla Model 3 could still be contested by the Volvo EX30, especially as both models face the impact of upcoming tariffs on Chinese-made EVs. The competition among top models is expected to intensify in the second half of the year.
In terms of automotive group rankings, Volkswagen Group maintained a comfortable lead with 20.1% market share, while Stellantis experienced a drop in share to 11.7%. BMW Group and Geely-Volvo surpassed Tesla in market share, with BMW benefiting from the ramp-up of the Countryman EV and Geely seeing strong performances across its brands. Tesla is expected to recover ground in June, but could be impacted by the tariff increase on Chinese-made EVs.
Overall, the European EV market continues to evolve with a shift towards electrification and the introduction of new models. While premium brands dominate the top positions, the competition among mainstream and luxury automakers is intensifying. The upcoming months will be crucial in determining the success of various models and automotive groups in the increasingly electrified European auto market.
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