Europe: Plug-In Car Sales Increased About 25% In January 2024

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 2022. 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:

1. Tesla Model Y - 11,425
2. Tesla Model 3 - 6,479
3. Audi Q4 e-tron - 4,979
4. Skoda Enyaq iV - 4,816
5. Volvo XC40 - 4,554 (4,371 BEVs + 183 PHEVs) 
6. Volvo XC60 PHEVs - 4,075
7. MG 4 - 3,544
8. Ford Kuga PHEV - 3,496
9. BMW i4 - 3,473
10. Dacia Spring - 3,409

For reference, below we attached the list of the top models in 2023.

Results in January-December 2023:

1. Tesla Model Y - 255,062
2. Tesla Model 3 - 101,313
3. Volkswagen ID.4 - 83,033
4. Skoda Enyaq iV - 78,739
5. Volvo XC40 - 73,650 (50,839 BEVs + 22,811 PHEVs) 
6. MG 4 - 72,421
7. Audi Q4 e-tron - 69,529
8. Fiat 500 electric - 64,579
9. Volkswagen ID.3 - 63,475
10. 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%

See also

Hyundai U.S. Ioniq EV Sales Increased 40% In February 2024

Kia U.S. EV Sales Increased 65% Through February 2024

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