20% of new cars in Europe have a socket!

Despite declining growth rates, the European plug-in passenger vehicle market is still in the fast lane. Some 160,000 plug-in vehicles were registered in February, up 38% year-on-year (YoY). This performance is particularly impressive considering that the overall auto market has continued to fall – down 7% last month, with 804,000 units recorded last month, making it the lowest February ever. in more than 20 years!

With the rapid increase in plugin registrations and the significant contraction of the overall market, the market share of plugin vehicles must have increased significantly, and it has. Last month’s plug-in vehicle share of the overall European car market was 20% (11% fully electric vehicles/BEVs). This result brought the share of the 2022 plug-in vehicle (PEV) to 19% (11% for BEVs alone).

Growth came from both plugin fields, but while BEVs (+79% YoY) continue to gain momentum, PHEVs (+6%) are slowing significantly, allowing pure electrics to represent the majority of registrations last month (57% vs. 43%) . This helped BEVs gain 2 percentage points of market share in the YTD count (55% vs. 45%).

It’s also worth noting that in addition to the disruption of electric vehicles, the overall market is also heavily impacted by other factors, such as the shortage of chips, which is dragging down most OEM records. Among the major players, only Hyundai-Kia (+25% over one year!!!) avoided a significant drop.

The current fortunes of Korean OEMs are benefiting from the fact that they did not cancel their microchip orders at the start of the COVID-19 pandemic, which, added to a strong bet on electrification, makes Hyundai-Kia l one of the world’s leading equipment manufacturers. global automotive market, and perhaps the best-prepared former OEM to face the current electrification process.

It is no coincidence that Hyundai (47%) and Kia (39%) have one of the highest electrification rates (BEV+PHEV) among traditional car manufacturers in the European market. They are second only to Porsche and Volvo, which already have electrification rates of around 50%.

In another sign of disruption, in the context of the fall in the automotive market, two brands stand out among the top 30 global brands in November, with #29 SAIC’s MG (+204%) and #18 Tesla (+186%), which, without coincidence are two manufacturers of electric vehicles only.

Anyway, let’s take a closer look at the top 5 plugins of February:

#1 Tesla Model 3 — It was another big month for the Tesla sedan, which had 9,098 registrations. March being another peak month, expect it to appear among the top sellers. As for February performance, Model 3 deliveries were concentrated in the largest markets on the continent, such as Germany (3,690 units), France (2,717) and the United Kingdom (1,275) , with sedan lover Spain (337) follows them from afar.

#2 Tesla Model Y – Like the Model 3, it was a good month for Tesla’s crossover. In February, the Chinese-made crossover had 6,879 registrations, a number that will easily be surpassed when Giga Berlin ramps up and the mid-size crossover moves to the front of the pack. Looking at last month’s performance, the top Model Y markets were Germany (2,254 units), UK (1,306), France (866) and break crossover-loving Sweden (583).

#3Fiat 500e — The little Italian is having a good start to the year, with 4,038 deliveries in February. With wrinkles appearing on the competition (VW e-Up, Smart Fortwo EV, Renault Twingo EV…) and the Dacia Spring attracting a more cost-conscious clientele, the Fiat EV won’t have any serious competition in the near future. Last month, the main markets were Germany (1,392 units), France (1,028 units), its native Italy (509 units) and the Netherlands (283).

#4 Peugeot 3008 PHEV — The French crossover had another top 5 presence in February, with 3,608 registrations, winning its second PHEV best-selling title in a row. Will the Peugeot crossover dethrone the Ford Kuga PHEV from the annual trophy? It’s still early to tell, but with two straight wins, it looks promising. The 3008 achieves its best scores in France (1,377 units), but it also finds its place on the increasingly important German market (562 units), followed by Spain (347 units) and Italy (286 ), confirming the appeal of the crossover. (and Stellantis) in Southern Europe.

#5 Electric Kia Niro — The Korean big cart the crossover continues to be a safe bet in the EV field. He doesn’t really stand out on any particular element, but he doesn’t have any weak spots either, which contributes to his continued success. In February he had 3,507 registrations, making it Hyundai-Kia’s best-selling model last month. On last month’s performance, the core market for the Niro EV was (high) with wagon-loving Sweden (711 units), the UK (700 units), Germany (554) and France (402 units) being the crossover’s next best markets.

Looking at the rest of the February table, one thing stands out, the best-selling German model (BMW 3 Series PHEV) was only 8th, being overtaken by two Teslas (Model3 and Y), two Stellantis models (Fiat 500e and Peugeot 3008 PHEV), and three Hyundai-Kia vehicles (Kia Niro EV, Hyundai Ioniq 5 and Hyundai Kona EV), while the best-selling Volkswagen was the ID.4… in 12th position.

Now, February is one of the slowest selling months of the year, and that might not mean anything, as these results could still be influenced by the year-end rush, but… just to give an example, in the same month last year, the VW ID.3 was 2nd, with 3,808 registrations.

Moving on, the Audi Q4 e-tron was 9th last month, making it the Volkswagen Group’s best-selling model. This seems to prove that the German conglomerate favors its higher-margin models.

In the second half of the chart, the highlights are the #17 Volvo XC60 PHEV (again: higher range = higher sales), the #19 Mini Cooper EV (it looks like the hot hatch has increased production lately time), and the #20 Kia EV6, with the Korean sportsman set to become a familiar face in the chart.

Under the top 20, the elegant The Polestar 2 got 2,085 registrations, thanks to the cheaper versions, and the future classic The BMW i3 is set to retire with a bang, after recording 2,170 registrations last month. We may see the little one Bimmer show up on the table soon! (Crossed fingers.)

Looking at the 2022 ranking, the Tesla Model 3 is back in the lead thanks to a strong month, followed by the Kia Niro EV and the Fiat 500e, but the likely winner of this year’s race is now 5th. The Tesla Model Y is about 2,500 units behind its Model 3 sibling, but expect the crossover to overtake its older sibling this year. (June?)

The PHEV title is currently in the hands of the Peugeot 3008 PHEV #4, which easily overtakes the 2021 winner, the Ford Kuga PHEV. The Kuga PHEV is only 14th in the standings this year and 4th in the PHEV category. That says a lot about the volatility of the PHEV category.

Elsewhere, the main news was the rise of two models, with the #7 Hyundai Ioniq 5 and the #15 Kia EV6 proving to be two worthy contenders in the mid-size segment. Interesting fact: the three best-selling intermediate BEVs in Europe all come from Asia.

In the second half of the table, note the slow starts of the VW ID.4 (4th in 2021, 12th now) and ID.3 (3rd in 2021, 18th now), as well as that of great rival Renault Zoe (2nd then, 9th now) and Peugeot e-208 EV (10th then, 20th now).

In the ranking of car manufacturers, things are fairly balanced. While last year’s winner, Volkswagen (5.9%) is only 8ththe race between BMW and Mercedes (both have 9.6% share) is super hot, with just 120 units separating the Bavarian from rival Mercedes.

In 3rd we have a surprise, with Volvo (6.4%) jumping to the last place of the podium, overtaking Peugeot (also 6.4%) and Kia (6.3%). Kia retains 5th position by only 10 units, ahead for the moment of the Audi n°6. 7th is Hyundai, with 6% share, followed by the aforementioned Volkswagen, while Tesla is 9th, with 5.4% share.

Organize things by automotive group, the Volkswagen group is in the lead with 18.7% market share, above Stellantis (15.9%). The second multinational conglomerate managed to keep a solid distance between itself and the current bronze medalist, Hyundai-Kia (12.3%). Meanwhile, BMW Group No. 4 (11.9%) isn’t far behind. Will we see a change of position here in March?

Or… could it be that Mercedes-Benz Group no. 5 (10.8%) is starting to attack its big Bavarian rival?

With Geely-Volvo and the Renault-Nissan Alliance more than 2% behind, it seems for now that these top 5 OEMs will be shielded from the competition.


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