Tesla maintains dominance as Europe's EV market grows in February

Despite many outlets suggesting EV demand is waning, electric vehicles are still gaining traction in Europe, with overall sales continuing to increase despite reduced incentives. February 2024 saw a 10% year-over-year increase in plug-in electric car sales, in line with the overall market growth. The plug-in EVs captured 20% share of the European market.

Despite a slight slowdown, the EV segment is still on the rise in Europe. All-electric vehicles remain far more popular, getting 13% of the market, while plug-in hybrids held 7%.

February saw roughly 202,500 new plug-in electric car registrations in Europe. The number for the year so far is over 400,000, once again a solid 20% of the total market.

Tesla's reign over Europe's EV market remains unchallenged. In February, nearly 20,000 new Tesla Model Ys were registered, and the Model 3 came a somewhat distant second with over 8,000 units sold.

Interestingly, despite their popularity, Volkswagen's ID.3 and ID.4 models didn't make February's top ten, ranking 19th and 20th respectively. Notable players in the EV market include Peugeot e-208, the Volvo XC40, and the rapidly climbing MG 4.

When it comes to brands, Tesla remains the undisputed champion, slightly edging out BMW and Mercedes-Benz. As for automotive groups, the Volkswagen Group maintains its leadership position with a 19.5% share, while Stellantis follows with 12.2%.

Via