The demand for electric vehicles across Europe drove a 20% increase in new car registrations in August compared to the same month last year.
Nearly 900,000 new vehicles were registered in Europe in August, according to data on registration recently compiled by JATO across 28 European markets. About 196,000 of them were battery-electric vehicles, which is an increase of 102% from August 2022. Vehicle sales that run on petrol increased by 11%.
In some markets across Europe, demand for battery-electric vehicles increased dramatically. EV growth skyrocketed by 224% in Belgium, 183% in Greece, 164% in Luxembourg, and 164% in Portugal, among others. In Germany, registrations for electric vehicles have increased by 171%. In actuality, 44% of the global demand for BEVs comes from Germany alone.
The two most popular EVs in Europe continue to be the Tesla Model Y and Model 3. A total of 21,549 Model Y units and 11,943 Model 3 units were registered in August, reflecting growth of 208% and 307%, respectively. With 9,135 registrations (a 61% increase) and 6,835 registrations (an 86% increase), the VW ID.4 and ID.3 were the third and fourth most popular EVs, respectively.
By the end of the year, Felipe Munoz, a worldwide analyst at JATO Dynamics, predicted that the Model Y would surpass all other new passenger vehicles sold in Europe. It will be a noteworthy and historic occasion since a non-European model will be dominant in Europe.
The benefits of rising demand are also being enjoyed by MG. In August, it surpassed Jeep, Mazda, Mini, and Suzuki in sales and climbed into the top 20 brands in Europe. It also registered more electric vehicles than brands including Audi, Opel/Vauxhall, Peugeot, Renault, and Skoda. Additionally, MG sold 197,800 vehicles in total, or 69% of all Chinese vehicles imported into Europe.
Volkswagen continues to be the market leader in Europe’s entire auto market. It sold 99,266 vehicles in total in August, up 10% from August 2022. With 59,132 sales, Toyota came in second, followed by BMW with 52,334 sales, Audi with 51,132 sales, and Skoda with 49,996 sales. Mercedes (48,511), Peugeot (41,869), Renault (40,822), Kia (40,712), and Hyundai with 38,925 rounded out the top 10