New car registrations in Europe soared by 20% in August compared to the same month last year, spurred on primarily by demand for electric vehicles across the continent.
Recent registration data gathered by JATO across 28 European markets reveals that almost 900,000 new vehicles were registered in Europe in August. Of these, approximately 196,000 were battery-electric vehicles, which represents a 102% increase from August 2022. Sales of gasoline-powered vehicles rose by 11%.
Demand for battery-electric vehicles jumped significantly in certain markets across Europe. These included Belgium where EV growth soared 224%, Greece where it jumped 183%, Luxembourg up 164%, and Portugal also up 164%. Electric vehicles are particularly popular in Germany with registrations rising by 171%. In fact, Germany itself accounts for 44% of all BEV demand.
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The Tesla Model Y and Tesla Model 3 remain the two best-selling EVs in Europe. In August, some 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) and 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,” JATO Dynamics global analyst Felipe Munoz noted. “As a non-European model leading in Europe, it will be a remarkable and historic moment.”
MG is also reaping the rewards of growing demand. It entered the top 20 brands in Europe in August, outselling Jeep, Mazda, Mini, and Suzuki. When it comes to EVs, it also registered more than the likes of Audi, Opel/Vauxhall, Peugeot, Renault, and Skoda. MG also accounted for 69% of all Chinese vehicles sold in Europe, totaling 197,800 sales.
Looking at the overall car market in Europe, VW continues to lead the charge. It sold a total of 99,266 vehicles in August, a 10% increase from August 2022. It was followed by Toyota with 59,132 sales, BMW with 52,334, Audi with 51,132, and Skoda with 49,996 sales. Rounding out the top 10 were Mercedes (48,511), Peugeot (41,869), Renault (40,822), Kia (40,712) and Hyundai with 38,925 sales.