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In September, demand for battery electric vehicles (BEVs) surged in Europe as buyers responded positively to government incentives, despite lingering worries about the future of electric vehicles in the region.
Data from JATO Dynamics, which covers 28 European markets, shows that 212,197 new BEVs were registered last month, marking a 14% increase from September 2023. However, even with this monthly rise, year-to-date registrations have dropped by 3% compared to the same period last year, with a total of 1.43 million units registered thus far in 2024.
Felipe Munoz, a Global Analyst at JATO Dynamics, remarked, “While it’s uncertain whether BEVs will maintain this upward trend, the recent increase in registrations is encouraging, especially given that consumers remain cautious about electric vehicle adoption.”
Stellantis Performance Pulls Down Overall Market
JATO’s figures indicate that 1,119,320 new cars were registered in September, about 40,000 fewer than in September 2023, corresponding to a 3% decline year-on-year.
The drop in overall market registrations was largely influenced by Stellantis, which experienced a significant 25% decline compared to September 2023, translating to nearly 50,000 fewer units sold. Sales fell in 22 out of 28 European markets, with the most notable declines in Italy (-34%) and France (-17%)—its key markets. Brands under Stellantis, such as Fiat (-43%), Citroen (-41%), and Opel/Vauxhall (-24%), saw particularly sharp decreases.
Munoz suggested that “Stellantis might interpret these results as a signal to refresh its product offerings and realign its BEV portfolio to reverse this downward trend.”
Tesla and Volkswagen Group Dominate the Electric Market
In the BEV sector, the Volkswagen Group performed strongly, capturing a 22.8% market share in September 2024, up from 19.8% a year earlier. Tesla also improved its market share to 20.9%, from 18.2%. Other notable performers included BMW Group (9.6%, up from 8.1%) and Geely Group (7.6%, up from 5.0%). Conversely, Stellantis’s market share dropped to 10.6% from 14.8% in the same month last year. Other manufacturers that experienced declines in year-on-year market share included Mercedes (down from 8.1% to 6.3%), Hyundai-Kia (down from 7.5% to 6.0%), Renault Group (down from 5.5% to 3.7%), and SAIC (down from 6.3% to 3.2%).
Despite a 1% decline in registrations of the Tesla Model Y compared to September 2023, it remained the top-selling BEV, as well as the best-selling vehicle overall. Registrations of Tesla vehicles, in general, rose by 31% last month, boosted by the success of the updated Model 3, which became the second best-selling BEV. The Volkswagen ID.7 also showed strong performance with nearly 5,500 registrations. Key players among new models included the Citroen e-C3 (over 3,600 units), Volvo EX30, Ford Explorer EV, Renault Scenic, Mini Cooper, and Peugeot e-3008.
Skoda Shines Among Volkswagen Group
Volkswagen Group achieved a 2% increase in volumes last month compared to the same month last year, primarily thanks to Skoda, which ranked as the third best-selling car brand in Europe in September. Other notable performers included Toyota (+4%), BMW Group (+6%), and Geely Group (+25%).
The Dacia Sandero continues to be the best-selling car in Europe thus far this year and ranked third overall for the month, following the Tesla Model Y and Renault Clio. The Volkswagen Tiguan secured the fourth spot, aided by the success of its latest generation. Other popular models in September included the Toyota C-HR, BMW X1, Skoda Enyaq, and Karoq.
SOURCE: JATO Dynamics
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