Volkswagen is the most impacted by the decreasing BEV market in Europe
- In a European BEV market falling by 11% in March 2024 compared to March 2023 (-3% for the overall market including all engine types) and increased by only 3.5% in the first quarter of 2024 compared to the first quarter of 2023 (+5 % for the overall market ), which brands have been most impacted by the BEV slowdown at the start of the year?
- In the first quarter of 2024, we observe that 18 brands are facing sales decline in Europe (30 countries = EU + UK + Switzerland + Norway). The most impacted brand is Mini (-71%), due to the transition between the old Mini and the new Mini, but other brands such as Porsche, DS or Dacia, saw their sales drop by more than 45%. For Dacia, the transition between the old Spring and the new Spring seems problematic. For its part, VW lost its place as the second largest BEV carmaker in Europe due to a 36% drop in sales in the first quarter. Tesla retains its place as the leading BEV carmaker in Europe but loses 10% of its sales in the first quarter of 2024. Audi, Renault, Opel, Fiat have seen also their BEV sales decline.
- Which carmakers managed to increase their BEV sales in Europe in the first quarter of 2024? Jeep and Honda are among them but with very small quantities, also several Chinese carmakers like BYD, Xpeng, Leapmotor, DR (Chery), Ora (Great Wall), DFSK (Seres), JAC, but with very small quantities. The proof is that these carmakers together sell only half of what MG sells... The progress of Lucid, Lexus, Subaru and Toyota should also be put into perspective given the very low sales. On the other hand, BMW and Volvo are progressing and displaying relatively large quantities: these two brands take 2nd and 3rd place in the BEV sales ranking, behind Tesla and ahead of Volkswagen.