In January, plug-in electric car sales in Europe increased by roughly 25% year-over-year, which is a positive sign considering that some incentives were reduced or cut.
According to EV Volumes data shared by researcher Jose Pontes, 198,993 new plug-in electric cars were registered in Europe in January. The market share amounted to roughly 20% (compared to 17% a year ago).
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The year 2023 brought a slight increase in EV sales in Europe
In 2023, more than 3 million plug-in electric cars were sold in Europe. That's 16% more than in 2022 and 24% of the total market.
All-electric car registrations improved by 29% year-over-year to roughly 120,000, taking 12% of the market. Plug-in hybrids were up too, by 23% year-over-year.
It will be interesting to see how the situation will develop in 2024, but we are cautiously optimistic.
Plug-in car registrations in January (YOY change):
- BEVs: about *120,500 (up 29%) and 12% market share
- PHEVs: about *78,500 (u 23%) and 8% market share
- Total: 198,993 (up 25%) and 20% market share
* Estimated from the market share
Plug-In Electric Car Sales In Europe – January 2024
For reference, in 2023, over 3 million passenger plug-in electric cars have been registered in Europe, 16% more than in 2023. The market share amounted to 24% (compared to 23% in 2022, 19% in 2021 and 11% in 2020).
Plug-in car registrations in 2023 (YOY change):
- BEVs: about *1.84 million and 16% market share
- PHEVs: about *1.17 million up and 8% market share
- Total: 3,016,880 (up 16%) and 24% market share
* Estimated from the market share
Top Plug-In Models
Tesla noted a very strong start to the year, putting two of its cars at the top of the plug-in car sales list. The Tesla Model Y was Europe's best-selling plug-in model for the 15th month in a row in January with 11,425 new registrations.
The Tesla Model 3 was the second most popular plug-in model in January (6,479 units), followed by the two MEB-based crossover/SUVs: Audi Q4 e-tron (4,979) and Skoda Enyaq iV (4,816). By the way, the Volkswagen ID.4 was outside of top 20 with 2,227 units.
Results for the month:
- Tesla Model Y - 11,425
- Tesla Model 3 - 6,479
- Audi Q4 e-tron - 4,979
- Skoda Enyaq iV - 4,816
- Volvo XC40 - 4,554 (4,371 BEVs + 183 PHEVs)
- Volvo XC60 PHEVs - 4,075
- MG 4 - 3,544
- Ford Kuga PHEV - 3,496
- BMW i4 - 3,473
- Dacia Spring - 3,409
For reference, below we attached the list of the top models in 2023.
Results in January-December 2023:
- Tesla Model Y - 255,062
- Tesla Model 3 - 101,313
- Volkswagen ID.4 - 83,033
- Skoda Enyaq iV - 78,739
- Volvo XC40 - 73,650 (50,839 BEVs + 22,811 PHEVs)
- MG 4 - 72,421
- Audi Q4 e-tron - 69,529
- Fiat 500 electric - 64,579
- Volkswagen ID.3 - 63,475
- Dacia Spring - 59,331
Top Brands And Automotive Groups
The start of the year brought us a slightly unusual list of top plug-in car brands and OEMs, as BMW became the #1 with a 10.3% share in the rechargeable car segment. Tesla was second best with 9.1%, but only slightly ahead of another German premium brand—Mercedes-Benz.
In terms of automotive groups, the Volkswagen Group with 20.5% share is a lone leader, significantly ahead of Stellantis (12.0%).
Top brands by share in the plug-in segment in January:
- BMW - 10.3%
- Tesla - 9.1%
- Mercedes-Benz - 9.0%
- Audi - 8.3%
- Volvo - 7.8%
- Volkswagen - 5%
- Kia - 5%
- Peugeot - 4.8%
Top automotive groups by share in the plug-in segment in January:
- Volkswagen Group - 20.5% share (Volkswagen brand at 5%)
- Stellantis - 12.0%
- BMW Group - 11.0% share (BMW brand at 10.3%)
- Geely-Volvo - 9.6%
- Mercedes-Benz Group - 9.5% (Mercedes-Benz brand at 9.0%)
- Tesla - 9.1%
- Hyundai Motor Group - 8.7%
