European BEV sales stagnate since 2023
- While BEV sales in China continue to grow in the first half of 2024, rising from 20% of the market in January to 23% in March, 24% in April and 26% in May (versus 24% for the whole of 2023), BEV sales in Europe have tended to stagnate since 2023 and even decline in the first half of 2024, with 12% of the market in January, 13% in February, 14% in March, 13.5% in April and 14% in May (versus 16% for the whole of 2023). Over the 5-months in 2024, the average market share stands at 22.7% in China versus 22.4% for the first 5 months of 2023, and 13.4% in Europe versus 13.8% for the first 5 months of 2023, demonstrating that growth continues in China but has come to a halt in Europe.
- Even if China's BEV sales continue to grow in 2024, there's no denying that BEV sales growth in this country is slowing sharply compared with previous years, as if reaching a plateau. In large Europe (EU + UK + Switzerland + Norway), growth has come to a halt. The question is whether or not the forthcoming arrival of battery electric models priced under 30,000 euros will revive the European BEV market.
- In the USA, BEV sales grew very modestly in the first half of 2024, with an average market share of 7.5% over 5 months in 2024, compared with 7.3% over 5 months in 2023. Over the full year 2023, this share was 7.7%. Japan remains reluctant to buy BEVs, with sales of this type of model down in the first half of 2024 (1.5% market share over the first 5 months of 2024 versus 2.3% over the first 5 months of 2023).