BEV market share in Europe (30 countries) over 9 months 2024
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BEV market share in Europe (30 countries) over 9 months 2024
Should we create BEV quotas by country or by segment for 2035 in Europe?
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Should we create BEV quotas by country or by segment for 2035 in Europe?
- At the current rate of BEV sales development in Europe, the European Commission's objective of registering 100% of BEVs on the European continent by 2035 seems unachievable. In addition to the creation of a new A/A+ segment with a combustion engine, should we create quotas by country or quotas by segment?
- Quotas by country: Given that out of the 27 countries of the European Union, less than half (12 countries) have a BEV market share (for new vehicles registered) of more than 12% in 2024, the others (15 countries), located in Eastern and Southern Europe, have a BEV market share of less than 8% and which does not exceed 3 or 4% in some countries such as Italy, Poland, the Czech Republic, Slovakia or Bulgaria. The 100% BEV target in 2035 will be even more difficult to achieve for these 15 countries. Would it not be more realistic to create, for example, a 100% BEV quota in 2035 for the 12 countries where the BEV rate is currently above 12% and a 50% BEV quota in 2035 for the 15 countries where the BEV rate is currently below 8%?
- Quotas by segment: Given that the market segments of new cars sold in the European Union have different and very low electrification rates in the lower segments, would it not be more realistic to create, for example, specific electrification quotas for each segment in 2035, for example 100% for D and E segment cars, 65% for C-segment cars, 50% for B-segment cars and 25% for A-segment cars? These quotas would make it possible to meet a demand for cheaper vehicles (thermal and lower segment) and low CO2 emissions in 2035.
- These proposals for quotas by country or segment are examples and are intended to lead to discussions and debates on the subject. The proposed percentages must naturally be studied in more depth to be as realistic as possible.
Which carmakers are making progress in the USA over 9 months 2024?
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Which carmakers are making progress in the USA over 9 months 2024?
- While the US passenger car market (including pickups) increased by 0.4% in the first 9 months of 2024, which carmakers saw their sales increase sharply and which ones saw their sales decline sharply?
- Already in terms of volumes, the GM group remains the leader of the US market in 2024, with a 16.5% market share in the first 9 months of 2024, ahead of the Toyota group (Toyota, Lexus) which represents a 14.7% market share.
- The Ford group maintains its third place with a market share of 12.9%, despite the end of its sedans. It is followed by the Hyundai-Kia group (10.6% market share) which benefited from the abandonment of sedans by the Big Three (GM, Ford, Chrysler). Honda (9.0% market share) moves from sixth to fifth place in the US market, taking advantage of the difficulties of Stellantis (8.4% market share), which stopped production of its sedans last December and suffered from the end of life of its Ram pickup. Next come Nissan (6.6% market share), then Subaru, Volkswagen and Tesla (around 4% market share).
- The carmakers that are making the most progress in 2024 are Fisker, Ineos, Vinfast and Rivian, but with very modest volumes. Fisker took advantage of its bankruptcy filing to sell off its unsold cars at half price... Among the major carmakers, Honda is doing best with a 9.0% increase in its sales.
- The carmakers that are falling the most in 2024 are Stellantis (-17.0%) and Tesla (-13.1%). Regarding Tesla, the evolution of sales is uncertain with the election of Donald Trump to the presidency of the United States. Indeed, Donald Trump denigrated electric vehicles in his election campaign. But because of his proximity to Elon Musk, he seems to have changed his point of view. "I am for electric vehicles, I must be since Elon Musk strongly supported me" he declared at his speech in Atlanta.
Should we recreate a new A/A+ segment with thermal engines and maintain it beyond 2035 in Europe?
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Should we recreate a new A/A+ segment with thermal engines and maintain it beyond 2035 in Europe?
- At the current rate of BEV sales development in Europe (13% of sales in Germany over the first 9 months of 2024, 17% in France, 18% in Great Britain, 5% in Spain, 4% in Italy and less than 4% on average in Eastern Europe), the target, set by European regulation 2023/851 of 19/4/2023, of reducing CO2 emissions from new cars by 100% from 2035 compared to their 2021 level (and therefore of registering practically 100% of BEVs) seems very difficult to achieve.
- Should we then be realistic and recreate a thermal A/A+ segment which will be authorised beyond 2035 (A+ = lower part of segment B)? European carmakers have abandoned the unprofitable A-segment (it went from 10% of the market to 5% in a few years). In the B-segment, carmakers are developing new electric vehicles. But these are much more expensive than thermal vehicles. There is therefore a risk, with forced electrification, of seeing a demand for affordable A/B vehicles not satisfied. This new A/A+ segment could be like the Japanese Kei Cars which currently represent a third of the Japanese car market.
- In 2024, for new cars with thermal engines (petrol or diesel), the B-segment is the most popular in Europe and is even increasing its influence with 49% of the market compared to 47% last year. C-segment represents 35% of the market compared to 36% in 2023. These two market segments therefore represent 84% of the European market in 2024 compared to 83% in 2023. D-A-E and F segments represent only 16% of the European market in 2024 compared to 17% in 2023.
- As for new cars with fully electric engines, the distribution by segment is completely different, as C and D segments dominate this market, with 70% of sales (including 37% for C-segment and 33% for D-segment). B-Segment is poorly represented but is progressing (17% in 2024 compared to 14% in 2023). A-Segment is practically on the verge of extinction (4% in 2024 compared to 9% in 2023).
- See also the following analysis: Should BEV quotas be created by country or by segment for 2035 in Europe?
US passenger car and pick-up market is stable over 9 months 2024
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US passenger car and pick-up market is stable over 9 months 2024
- The US passenger car market (including pickups) grew by 0.4% in the first 9 months of 2024, reflecting relative stability. The volume of passenger car (sedans, SUVs, MPVs) and pickup truck registrations in the United States stands at 11,771,403 units over the period, compared to 11,729,097 over the first 9 months of 2023. We can therefore expect a volume of 15.6 million vehicles registered over the whole of 2024, which corresponds more or less to the volume recorded in 2023.
- The new Trump presidency could reverse some of the CO2 targets announced by the Biden administration, but at the same time, it might not erase the sales targets for electric cars in the United States due to Elon Musk's closeness to Donald Trump and his entourage, a closeness that could be considered by some as one of the reasons for Trump's success in the American presidential election.
- The Tesla Model Y and Model 3 are leading the market in terms of registrations of battery electric cars in the US market, with 30,000 and 15,000 units per month respectively, while the Model S and Model X have all but disappeared from the market, with 1,000 units per month for each model. Interestingly, the Cybertruck pickup is now registering 5,000 sales per month, which puts it in third place in the US BEV market behind the Model Y and Model 3, and well ahead of its competitors the Ford F-150 Lightning and Chevrolet Silverado EV.