It was a record year for electric cars in Europe: over two million new registrations in 2023 demonstrate the increasing demand. They achieved a share of 15.7 percent of the overall market. This makes Europe the second largest BEV market in the world after China.
New electric car record in Europe
According to new data from analysts at Jato Dynamics, 2023 was a record year for electric cars in Europe. The two million new registrations mark was exceeded for the first time. The total number of new car registrations in the 28 European countries climbed to almost 12.8 million, an increase of 14 percent compared to the previous year. With a market share of 25.8 percent, the Volkswagen Group maintained its leading position.
The growth drivers were primarily battery-electric vehicles (BEVs). Share of 15.7 percent of the overall market. This means that the BEV category reached a new high and almost reached the level of diesel registrations. Europe thus confirms its status as the second largest BEV market in the world – behind China but ahead of the USA.
Despite the general growth, this remained the case Interest from private buyers fell short of expectations: With only 39 percent of BEV registrations by private individuals – a decline of 9 percentage points compared to the previous year – car manufacturers still have a lot to do to convince private buyers of electric cars.
Extremely strong: Nissan’s Hyper Force is not yet available to buy.
E-cars: Chinese brands and Tesla on the rise
The presence of Chinese car manufacturers is growing rapidly. With a Plus of 79 percent Compared to the previous year, they make it clear that they are a force to be reckoned with – even if their market share is still relatively modest at 2.6 percent (source: Jato Dynamics).
Tesla, on the other hand, expanded its dominance in 2023 and left established brands such as Nissan and Volvo behind in Europe. The Model Y became a bestseller and was the first non-European, purely electrically powered model to reach the top of the European registration statistics.