EVs lose market share in Europe

The demand for electric vehicles (EVs) has fallen across Europe, according to the latest registration figures from the continent.

EV marked share decreased from 14.6% in July 2023 to 13.5% last month. Data from Jato Dynamics shows 139,300 new electric cars were registered last month, down 6% from July 2023.

Felipe Munoz, global analyst at Jato Dynamics, said: “The lack of clarity around the incentives for - and future of - EVs continues to present a barrier to consumers considering an EV. These factors, alongside the low residual value of EVs contributed to the decline seen in July.”

BMW led the EV brand ranking last month, with a 35% year-on-year increase. This was a strong performance compared to Tesla, which recorded a 16% year-on-year decline. While the Tesla Model Y and 3 both continue to dominate the year-todate BEV ranking, they have recently lost ground. The Model Y is no longer Europe’s best-selling vehicle and landed in ninth position in July’s overall vehicle ranking.

BMW’s latest models - including the iX1, i4, and i5 - performed well in July, while the new iX2 registered more than 1,300 units. Registrations of BMW’s electric models are clearly outpacing those of its Mercedes and Audi counterparts.

Overall, new car registrations were up by 2% across Europe in July with a total of 1.03m vehicles sold.

SUVs continue to be the most popular body style, accounting for 54% of all registrations. 

The Dacia Sandero was the region’s most sought-after car in July, registering 22,400 units – an increase of 34%. This is over 3,000 units more than the second best-selling car, the Volkswagen T-Roc.

The 10 best-performing cars in July comprised of five SUVs and five hatchbacks. The Volkswagen T-Cross, Toyota C-HR, BMW X1, Peugeot 3008, Skoda Kamiq, Skoda Fabia, Seat Ibiza, Kia Niro, Jeep Avenger, and Mercedes GLC also did well in July.

On the other end of the spectrum, those that experienced decline included the Ford Puma; Tesla Model Y; Fiat Panda; Audi A3; Fiat/Abarth 500; Mini Hatch; Opel/Vauxhall Mokka; Kia Picanto, Volkswagen ID.4; Mercedes C-Class; and Skoda Enyaq.

Europe’s second-most popular EV of the month was the Volvo EX30, with almost 6,600 registrations. MG registered over 4,000 units of the MG3; Fiat registered 2,636 units of the 600; BMW registered 2,302 units of the i5; Renault registered 2,235 units of its new Scenic model; and Lexus registered 2,186 units of the LBX.