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The demand for electric vehicles, based on data collected by the British institute Jato Dynamics, increased dramatically in August in Europe to represent 22% of total registrations which amounted to 196,000 units in the eighth month of the year thanks to an increase in 102%.
The European countries that recorded the greatest growth in electric sales were Belgium (+224%), Greece (+183), Luxembourg (+164%) and Portugal (+164%). Germany also increased (+171%) which represented 44% of total European demand.
Tesla and MG are the brands most rewarded by growth
Tesla and MG benefited the most from the increase in demand for BEVs. Between January and August, Tesla’s sales increased from 45,600 units in 2020 to a record 236,400 units this year. Furthermore, in August Tesla gained 2.43 points of share in the overall market, reaching a new record of 3.76%, while the Californian brand’s share of the BEV market went from 10.2% in August 2022 to 17.3% of the same month 2023. The Tesla Model Y is expected to become the best-selling car at the end of the year.
MG is worth 69% of Chinese brands’ sales
MG, however, climbed the rankings for sales in the month of August, gaining the second market share between August 2022 and the same month this year, both in the Bevche market in general. In August MG entered the European top 20, overtaking Jeep, Mazda, Mini and Suzuki. On the BEV market, MG has registered more cars than Audi, Opel, Peugeot, Renault and Skoda. The sales volumes of MG, which also considers itself a British brand, represented 69% of the total of 197,800 units registered by the Chinese brands in August.
The brands most penalized by the boom are Tesla and MG
Hyundai-Kia, Stellantis and Volkswagen are among the brands that have had to pay the price of the great rise of Tesla and MG. Stellantis, for example, must wait for the Citroen and Peugeot brands to be able to put more electric models in their range, which in any case are already on the way, also given that the diesel range continues to record a sharp decline. While Hyundai-Kia and Volkswagen are seeing increases with their electric models, the growth is not keeping pace with the market average. Of note is the remodulation of incentives in Germany.