New EV Sales Soar 102% In Europe, Total Car Market Jumps 20%

The demand for electric vehicles (EVs) in Europe continues to surge, with new car registrations in the region increasing by 20% in August compared to the same month last year. This growth is primarily driven by the rising popularity of EVs across the continent.

According to recent registration data gathered by JATO across 28 European markets, nearly 900,000 new vehicles were registered in Europe in August. Of these, approximately 196,000 were battery-electric vehicles, representing a remarkable 102% increase from August 2022. In contrast, sales of gasoline-powered vehicles rose by 11%.

The demand for battery-electric vehicles witnessed significant growth in several European markets. Belgium experienced a staggering 224% increase in EV registrations, followed by Greece with a jump of 183%, Luxembourg and Portugal with a 164% increase each. Germany, in particular, has shown immense interest in electric vehicles, with registrations rising by 171%. In fact, Germany alone accounts for 44% of all battery-electric vehicle demand in Europe.

The Tesla Model Y and Tesla Model 3 remain the two best-selling EVs in Europe. In August, 21,549 examples of the Model Y were registered, while 11,943 Model 3s were registered, representing gains of 208% and 307% respectively. The third most in-demand EV was the VW ID.4 with 9,135 registrations (a 61% increase), followed by the ID.3 with 6,835 registrations (86% up).

“It’s likely that the Model Y will become Europe’s most popular new passenger car by the end of the year,” noted Felipe Munoz, a global analyst at JATO Dynamics. “As a non-European model leading in Europe, it will be a remarkable and historic moment.”

MG, a Chinese automaker, is also reaping the rewards of growing EV demand. In August, MG entered the top 20 brands in Europe, outselling well-established brands like Jeep, Mazda, Mini, and Suzuki. When it comes to EVs, MG registered more vehicles than Audi, Opel/Vauxhall, Peugeot, Renault, and Skoda. Additionally, MG accounted for 69% of all Chinese vehicles sold in Europe, totaling 197,800 sales.

In terms of overall car market performance in Europe, Volkswagen (VW) continues to lead the charge. VW sold a total of 99,266 vehicles in August, marking a 10% increase from the same period last year. Toyota followed closely with 59,132 sales, while BMW, Audi, and Skoda secured the third, fourth, and fifth positions with 52,334, 51,132, and 49,996 sales respectively. Rounding out the top 10 were Mercedes (48,511), Peugeot (41,869), Renault (40,822), Kia (40,712), and Hyundai (38,925).

The surge in EV sales in Europe reflects the growing awareness and acceptance of electric mobility as a sustainable and environmentally friendly transportation solution. With governments and automakers focusing on expanding charging infrastructure and introducing more affordable EV models, it is expected that the demand for electric vehicles will continue to rise in the coming years.

As the European market embraces electric mobility, it sets an example for other regions to follow suit. The transition to electric vehicles not only reduces carbon emissions but also contributes to a cleaner and greener future for all.