European BEV demand rebounded in September

Demand for BEVs (battery electric vehicles) rebounded in Europe in September 2024 as buyers reacted positively to incentives in spite of ongoing concerns about the future of electric cars on the continent.

According to JATO Dynamics’ data for 28 European markets, 212,197 new BEVs were registered last month, up 14% from September 2023. 

Despite the monthly uptick in registrations, year-to-date volumes fell by 3% compared to the corresponding period in 2023, with 1.43 million units registered so far in 2024.

“It’s hard to say whether BEVs will continue along this positive trajectory, but the monthly increase in registrations is welcome news – especially considering consumers still have reservations about adopting electric cars,” JATO Dynamics global analyst Felipe Munoz says.

Stellantis performance contributes to broader monthly drop

JATO’s data revealed that 1,119,320 new cars were registered in September. This is around 40,000 less than the amount registered in September 2023 or a 3% year-on-year drop.

Stellantis was primarily responsible for the overall market’s volume decrease last month, posting a 25% decline in registrations compared to September 2023 – a drop of almost 50,000 units. 

The company recorded a significant sales decline in 22 of 28 European markets, notably in Italy (-34%) and France (-17%), its two main markets. Stellantis brands that experienced a steep decline in sales last month include Fiat (-43%), Citroen (-41%) and Opel/Vauxhall (-24%).

“Stellantis may see these results as an indicator that the time has come to refresh its offering and reposition its BEV lineup to ensure the downward trend doesn’t continue,” Munoz says.

Tesla and Volkswagen Group lead the electric charge

Within the BEV segment, Volkswagen Group performed well (22.8% market share in September 2024 vs.19.8% in September 2023), as well as Tesla (20.9%, up from 18.2%), BMW Group (9.6%, up from 8.1%) and Geely Group (7.6%, up from 5.0%). 

In contrast, Stellantis’ market share dropped to 10.6% in September compared to 14.8% in the corresponding month last year. Other makers that recorded a year-on-year decline in monthly market share include Mercedes (down

from 8.1% to 6.3%), Hyundai-Kia (down from 7.5% to 6.0%), Renault Group (down from 5.5% to 3.7%) and SAIC (down from 6.3% to 3.2%).

Despite registrations of the Tesla Model Y falling by 1% last month compared to September 2023, the model led both the BEV and overall ranking the previous month. 

Registrations of Tesla models rose by 31% last month, driven by the success of the

updated Model 3 – the second best-selling BEV the previous month. The Volkswagen ID.7 also performed well, with close to 5,500 registrations. Last month, Other vital players included the new Citroen e-C3 (more than 3600 units), the Volvo EX30, the Ford Explorer EV, the Renault Scenic, the Mini Cooper and the Peugeot e-3008.

Skoda, the standout performer for the Volkswagen Group

Volkswagen Group recorded a 2% increase in volumes last month compared to the previous month.

This is primarily attributed to Skoda, Europe’s third–best–selling car brand in September. Other strong performances included Toyota (+4%), BMW Group (+6%), and Geely Group (+25%).

The Dacia Sandero, Europe’s best-selling car to date, was the third best-selling vehicle of the month in the overall ranking after the Tesla Model Y and Renault Clio. The Volkswagen Tiguan occupied the fourth spot, boosted mainly by the latest model generation, while the Toyota C-HR, BMW X1, Skoda Enyaq and Karoq were popular models in September.