Summary
– April saw a 11% increase in plugin vehicle registrations in Europe compared to the previous year
– Plugin vehicles made up 20% of the European auto market in April
– BEVs grew faster than PHEVs, signaling a potential shift in the market
– Volkswagen’s ID.4 regained a podium position with strong registrations
– Volvo’s entry into the market with the EX30 led to a significant increase in sales for the brand
Article
In April, Europe saw a significant increase in the registration of plugin vehicles, with a total of 219,000 vehicles registered, showing an 11% growth compared to the previous year. Despite a slight decline in Tesla’s deliveries, other manufacturers like Volvo, Volkswagen, and Peugeot contributed to pulling the market upwards. EV market share remained stable, with plugins maintaining a growth rate similar to the overall market, at +12%. April saw plugin vehicles accounting for 20% of the European auto market, with full electrics/BEVs representing 13% of that share.
In terms of year-to-date performance, BEVs showed a faster growth rate (+14%) compared to PHEVs (+6%), indicating a possible resurgence in the BEV market. With the imminent launch of new mass-market EVs like the Renault Scenic and Citroen e-C3, a recovery from Q1 sales blues is expected in Q2, with significant growth anticipated in the second half of the year. In addition, plugless hybrids saw a significant YoY growth of 29% in April, representing 30% of the total market. Diesel vehicles, on the other hand, continued to decline, with only 12% market share in April 2024, signaling a potential end to diesel vehicles by 2027.
The top performers in the European EV market in April included the Tesla Model Y, Volvo EX30, VW ID.4, Audi Q4 e-tron, and Volvo XC60 PHEV. The Model Y maintained its lead as the best-selling EV in Europe, while the EX30 climbed to the second position in only its fourth full month on the market. The ID.4 from Volkswagen saw a resurgence with 6,011 registrations, and the Audi Q4 e-tron maintained a top 5 presence with 5,909 sales. The Volvo XC60 PHEV also performed well, contributing to Volvo’s success in the market.
Outside the top 5, the VW ID.3 and BMW iX1 showed strong performance, indicating their potential to become future best sellers. BEVs continued to dominate plugin sales, representing 66% of sales in April, a positive sign for the EV market. Hyundai Kona EV and Fiat 500e also made notable appearances in the rankings. Brand-wise, Tesla remained the leader in the plugin auto brand ranking, with BMW, Mercedes, Volvo, and Audi following closely. In the automotive group ranking, Volkswagen Group maintained a comfortable lead, with Stellantis surpassing Tesla to claim the second position.
Overall, the European EV market in April showed signs of growth and recovery, with a focus on BEVs outperforming PHEVs and petrol/diesel vehicles. The introduction of new EV models and advancements in battery technology contributed to the market’s positive trajectory. With premium brands dominating the top rankings, competition is expected to intensify among manufacturers to secure a stronger position in the evolving EV market. As the transition towards electrification accelerates, it is crucial for automakers to invest in and promote sustainable mobility solutions to meet the increasing demand for electric vehicles.
Read the full article here
