Tesla Model Y is the best-selling car in Europe in March 2024, surpassing the Volkswagen Golf and the Dacia Sandero which in the first 2 months of the year had always been first in this particular ranking (Sandero however first in the cumulative first 3 months). This is what emerges from the latest report by Jato Dynamics on the performance of the European car market.
In March there there were 1,377,541 registrations, a figure down by 2.7% compared to the same month last year. The balance of the first 3 months of the year is however positive given that registrations in the first quarter rose by 4.8% compared to the same period of 2023, with 3,380,048 units registered in total. Second Felipe Munoz, analyst at Jato Dynamics, the high prices of new cars are influencing the March result. Furthermore, consumers are still reluctant to switch from petrol and diesel vehicles to electric models.
For Munoz, uncertainty over regulations and a lack of clarity on incentives available for electric vehicles in many European markets are discouraging potential buyers.
HYBRIDS ARE GROWING
Doubts about electric cars have led to one strong growth of hybrid models, with 382,700 units registered between January and March this year. This is an increase of 18% compared to the corresponding quarter of 2023. This growth is even stronger when compared to the same period in 2022 (+50%).
Returning to the month of March, the pace of Chinese manufacturers slows down. In fact, around 33,000 cars were registered in total (including MG), with an increase of just 0.7% compared to March 2023. Electric models represented 36% of the total. As of March 2024, electric cars produced by Chinese brands are worth 6.1% of total BEV registrations.
MG accounted for more than half (61%) of China’s EV registrations in March, followed by BYD (24%) and Great Wall (5%). Registrations of MG models in March fell 38% year-on-year, while registrations of BYD vehicles increased from 427 units to 2,892 units over the same period.
BEST SELLING MODELS
Coming to the ranking of the best-selling cars in Europe in March 2024, in first place we find the Tesla Model Y with a drop of 42% compared to 2023. Followed by the Volkswagen Golf with an increase in volumes of 43%. Third, as mentioned, the Dacia Sandero with +23%.
Tesla leads the BEV ranking in Europe with just over 38,600 units registered in March although with a decline of 36% compared to 2023. Tesla’s market share in the electric segment fell from 27.8% in March 2023 to 19.9% last month. Among the electric cars, the Volvo EX30 did well with just under 7,600 registrations. Here are the rankings.
TOP 15 OVERALL
- Tesla Model Y: 26,847
- Volkswagen Golf: 25,779
- Dacia Sandero: 25,660
- Nissan Qashqai: 24,764
- Peugeot 208: 23,462
- Renault Clio: 22,964
- Citroen C3: 21,110
- Volkswagen T-Roc: 20,852
- Ford Puma: 19,077
- Toyota Yaris: 19,056)
- Opel/Vauxhall Corsa: 18,761
- Toyota Yaris Cross: 18,586
- Kia Sportage: 18,503
- Peugeot 2008: 18,473
- Skoda Octavia: 18,369
TOP 10 ELECTRIC
- Tesla Model Y: 26,847
- Tesla Model 3: 11,758
- Volvo EX30: 7,598
- Peugeot e-208: 5,463
- Volvo XC40: 5,354
- BMW i4: 5,297
- Volkswagen ID.4: 4,987
- BMW iX1: 4,947
- MG4: 4,818
- Audi Q4 e-tron: 4,431
TOP 10 PLUG-INS
- Volvo XC60: 5,785
- Ford Kuga: 4,509
- Audi A3: 4,273
- BMW X1: 3,281
- BMW 3 Series: 3,213
- Mercedes GLC: 3,048
- KIA Sportage: 2,815
- Cupra Formentor: 2,758
- Porsche Cayenne: 2,344
- Hyundai Tucson: 2,183
