Industry players & markets Amsterdam

European EV Sales, the current scenario

Monday, 14 August 2023

It was one of the main pillars of Rematec Amsterdam 2023, the focus on electric cars and everything related to it. The technology related to batteries, their construction, efficiency and charging standards, disposal solutions, and inevitably, sustainable manufacturing. It has been discussed throughout the fair, emphasizing the enormous work that major global companies are carrying out to offer a product with high-quality standards, both in terms of the vehicle and its components, with a separate focus on batteries. The commitment also extends to the charging grid, both urban and especially on highways, with special attention to the different needs from country to country. The 'Europe Passenger Electric Vehicle Model Sales Tracker' gives us insights into the current market situation in Europe.

Norway and the Netherlands are in first place for passenger vehicles

According to the most recent data from Counterpoint's Europe Passenger Electric Vehicle Model Sales Tracker, the region's sales of passenger electric vehicles (EVs) climbed by more than 13% YoY in Q1 2023. Although European passenger car sales as a whole are improving, they have not yet returned to their pre-COVID-19 levels. Germany was the leader in overall EV sales, followed closely by the UK, France, Italy, the Netherlands, and Norway. The Netherlands and Norway sold the most EVs relative to all passenger vehicle sales at the same time.


Not only full electric

Battery EV (BEV) sales increased 32% year over year in Q1 2023, while plug-in hybrid EV (PHEV) sales fell 13% year over year. As a result, compared to a year ago, the EV proportion of overall passenger vehicle sales decreased during the quarter. In the meantime, the European market for mild- and hybrid-electric vehicles (HEVs) has made significant strides. This shows that Europe is working to enter the lower-end EV market while also creating battery ecosystems and promoting a circular economy. 

Before putting a heavier emphasis on pure EV sales, several measures are being taken. Senior Analyst Soumen Mandal commented on the market dynamics, stating that the top five automakers — Volkswagen Group, Tesla, Stellantis, Mercedes-Benz, and Hyundai-Kia — accounted for the majority of European EV sales in Q1 2023. They controlled over two-thirds of the market. Tesla is in second place among battery-only electric vehicles (BEVs), only behind Volkswagen. Volkswagen dominates the market for plug-in hybrid electric vehicles (PHEV), followed by Mercedes-Benz and BMW.

China is present!

During the quarter, Chinese EV producers had trouble gaining market share in Europe. The sales of MG, BYD, NIO, ORA, and Aiways, however, increased in comparison to the prior year. On the other side, the European market presented difficulties for LYNK & CO, Hongqi, and Xpeng. However, given that the EV industry is anticipated to grow better, Chinese automakers will increase their market share in the upcoming quarters by providing affordable vehicles with cutting-edge features.

Top five models

The Tesla Model Y, Volvo XC40, Tesla Model 3, Volkswagen ID.3, and Audi Q4 e-tron were the top-selling EV models in Q1 2023, respectively. Almost a quarter of all shipments are made up of these top five models. With the exception of Spain, where it confronts more competition, the Tesla Model Y dominates the market in all of the main European nations, displaying Tesla's strong brand presence in the region. This quarter, EV sales as a percentage of all passenger vehicle sales in Europe fell from 27.6% in Q4 2022 to 18.4%. When compared to the previous pattern of constant QoQ growth, this represents a major change. All of the main nations, with the exception of France, saw a fall in Q1 2023. This fall was caused by a number of elements, including the shaky state of the economy and Norway's termination of EV subsidies. Germany, the biggest EV market in Europe, saw a drop as the EV market was negatively impacted by the impending recession and cautious consumer spending. These variables had an effect on the region's total EV adoption. But since April, the European continent has started to recover. As a result, by the end of this year, we anticipate that the share of EVs will increase and approach 25% once more.

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