Some 182,000 plugin autos had been registered in February in Europe — which is +14% 12 months over 12 months (YoY). Sadly, the general market grew nearly as quick, +12%, to 902,775 items, leaving the market share shut the the place it was 12 months in the past. Final month’s plugin car share of the general European auto market was 20% (13% full electrics/BEVs). That end result pulled the 2023 plugin car (PEV) share to 19% (12% for BEVs alone).
BEVs (+31% YoY) maintain gaining momentum, whereas PHEVs (-8%) are nonetheless affected by the lack of incentives in numerous markets on the finish of final 12 months, permitting pure electrics to symbolize nearly two thirds of plugin registrations final month (65% vs. 35%), a stark departure in comparison with what occurred on the identical time final 12 months (57% vs. 43%).
Now, let’s look nearer at February’s plugin prime 5:
#1 Tesla Mannequin Y — It was one other good month for Tesla’s crossover. In February, the midsizer had 17,205 registrations, a quantity that little doubt benefited from the current value cuts, and likewise from the truth that the Mannequin Y is likely one of the few EVs that has a balanced provide and demand ratio, in contrast to different fashions*, permitting fast supply for anybody fascinated about shopping for one. Concerning final month’s efficiency, the Mannequin Y’s predominant markets had been Germany (6,442 items), France (2,485), EV-loving Norway (1,271), Italy (1,114), and Denmark (1,018). (*It got here to my information this week that BMW has a median ready record for his or her EVs of round 12 months! A full 12 months!!!)
#2 Volvo XC40 (BEV+PHEV) — The compact Swede is a positive worth within the EV enviornment, and with the BEV model being the primary driver of progress (4,409 items), Volvo’s SUV was in 2nd place final month, solely behind the galactic Tesla Mannequin Y. The XC40 doesn’t actually stand out on any merchandise particularly, but it surely additionally doesn’t have weak factors, which contributes to its continued success. In February, it had 6,100 registrations, with XC40 gross sales distribution being evenly distributed throughout a number of markets. Its predominant markets had been: Sweden (835 items), Belgium (756), Germany (654), and the Netherlands (683).
#3 VW ID.3 — After a tricky 2022, the compact Volkswagen is coming again to life, having earned a bronze medal in February due to 5,382 registrations. With the restyling giving it a (barely) extra purposeful look, dropping a little bit of its “completely happy pet” look, together with higher inside supplies, the German hatchback is trying to replicate the VW Golf’s decades-old success recipe: Not particularly good or dangerous at something, and a design that doesn’t scare anybody. It now solely must have a practical, no-nonsense inside just like the VW Golf of the great ol’ days. … If these VW Golfs of the previous had been a political celebration, they might be a centrist celebration, trying to home as many citizens as doable underneath its umbrella. (However then once more, underneath present political polarization globally, pragmatic centrists aren’t actually trendy. … Is that the explanation why the VW Golf is dropping gross sales?) However i digress, again to the ID.3’s February efficiency. The principle markets had been its home market (1,898 items), the UK (650), Norway (535), and France, the place the ID.3 obtained a meritable 445 registrations.
#4 VW ID.4 — Volkswagen’s crossover this time performed the supporting position to the ID.3, ending the month in 4th with 5,147 gross sales. Europe is only one piece within the crossover puzzle of changing into the very best promoting legacy automaker EV on the worldwide stage, so beating its ID.3 sibling in Europe isn’t actually a precedence. Talking of the ID.3, like its smaller sibling, Germany was the mannequin’s largest market, with 1,599 gross sales, adopted by Sweden (718 gross sales) and Eire(!), the place the German crossover has actually caught on, being #1 within the total market.
#5 Fiat 500e — The little Italian had a robust February, logging 4,844 deliveries. With wrinkles exhibiting up on the competitors (VW e-Up, Sensible Fortwo EV, Renault Twingo EV…) and the Dacia Spring interesting to a extra cost-sensitive buyer base, the Fiat EV received’t have critical competitors for the close to future. Final month, its predominant markets had been France (1,919 items), Germany (1,183 items), and its native Italy (538 items).
Taking a look at the remainder of the February desk, the surprises had been the return to type of the Tesla Mannequin 3 (ninth, with 3,867 gross sales) and the Peugeot 208 EV (eighth, with 4,052 gross sales). Anticipate the US sedan to expertise a peak end result subsequent month, almost certainly reaching a podium place in March. The French hatchback, in the meantime, is trying to get better misplaced time and profit from revised specs to return to prime positions within the subsequent few months.
Shifting on, the #11 Ford Kuga PHEV was the very best promoting PHEV within the desk, with 3,207 registrations, however this time the Ford crossover needed to sweat to earn the title, as a result of the #12 Volvo XC60 PHEV (3,057 registrations) ended simply 150 items behind. This robust efficiency coming from the Swedish SUV is an effective omen for the Volvo EX60, the Swede’s a lot awaited midsize BEV, set to land in 2024.
Two different spectacular performances come from the worth for cash king, the MG 4, attending to #14 with 2,735 registrations, and the Lynk & Co 01 PHEV exhibiting up in #16, with 2,623 registrations. The Cupra Born additionally joined the desk this month, in seventeenth, with the spicy Spaniard being the fifth MEB-platform EV within the prime 20. It joins the #3 VW ID.3, #4 VW ID.4, #6 Audi This autumn e-tron, and #10 Skoda Enyaq.
Under the highest 20, there have been a couple of highlights, just like the new Audi Q8 e-tron + outdated e-tron retaining the total dimension management place with 2,149 registrations, properly above the class runner-up Porsche Taycan (1,102 items) and the #3 Mercedes EQE (1,015 items). For as soon as, the three-pointed-star sedan appears to be going someplace, so will we see it (at the least) turn out to be the class finest promoting sedan?
One other spotlight is the Toyota bZ4X registering 1,235 items final month. It seems to be just like the Japanese SUV is lastly getting its act collectively and ramping up manufacturing. Now the query is: How excessive will Toyota wish to go along with its manufacturing output?
Trying on the 2023 rating, the Tesla Mannequin Y consolidated its robust begin to the 12 months, now having twice as many deliveries because the runner-up Volvo XC40. So, one can say that the 2023 finest vendor title has already discovered an proprietor.
Within the final place on the rostrum, we now discover the VW ID.3, which was up two positions in February. Its bigger sibling, the ID.4, additionally had a constructive month, climbing to fifth. With the Audi This autumn e-tron in sixth, we now have three Volkswagen Group fashions within the prime 6 positions.
The Peugeot 208 EV additionally jumped positions, as much as #8, being by far the chief of the B-segment/subcompact class.
The PHEV title is for now within the fingers of the #10 Ford Kuga PHEV. However the #11 Volvo XC60 PHEV is fewer than 500 items behind, so it seems to be as if the Ford crossover might want to beat the Swede in an in depth race to be able to retain its title. It appears Ford’s stroll within the park days within the PHEV class have ended….
Elsewhere, the primary information was the rise of two fashions, with the #17 MG 4 and #18 Audi Q8 e-tron/e-tron combo each climbing one place.
Lastly, we’ve two returns to the desk. The Tesla Mannequin 3 confirmed up in #14, with Tesla’s sedan now in search of a place within the prime 5, whereas the Cupra Born joined the desk in #20, thus changing into the sixth Volkswagen Group mannequin within the desk.
Within the automaker rating, the Battle for Europe could be very a lot ON. Tesla jumped from fifth to 1st, due to a major improve in its market share — from 6.2% in January to its present 9%. In the meantime, Volkswagen, not eager to let the management of its residence market go to its American competitor, was additionally up, on this case from 4th to 2nd after having elevated its share from 7.7% to eight.3%. Anticipate each fashions to extend their share once more in March, as each will do their finest to finish the 12 months within the #1 place. This can be enjoyable to look at….
Within the midst of this deep reshape of the highest 5, Mercedes (8.1%) held onto its #3 spot, due to good performances throughout its in depth lineup. The EQA obtained 2,053 registrations, the EQB 1,328 registrations, and the brand new GLC PHEV 1,718 registrations.
The massive losers of the month had been #4 BMW (7.9%, down from 8.6%) and #5 Volvo (7.4%, down from 7.8%), with each makes being kicked off of the rostrum in February.
The subsequent step down, #6 Audi (6%) continues to be far-off, so each BMW and Volvo can relaxation realizing they’ll proceed to be within the prime 5 within the close to future.
Arranging issues by automotive group, Volkswagen Group is forward with 20.8% share, properly above Stellantis (14.4%). The runner-up multinational conglomerate nonetheless elevated the space between itself and the present bronze medalist, Geely–Volvo (10.2%, down from 10.7%). In the meantime, #4 BMW Group (9.5%) just isn’t far-off. Will we see a place change right here in March?
Or perhaps … may it’s the case that #5 Tesla (9%) finally ends up surpassing each Geely and BMW in March? Relying on the dimensions of the “Tesla excessive tide,” that might very properly be the case!
And let’s not overlook that Mercedes-Benz Group (9%) is simply 60 items behind Tesla, so it, too, may trigger a shock subsequent month.
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