The global pandemic continues to exert a tight grip on the European new car market, with year-to-date (YTD) registrations falling by 27 percent to 9.7 million units. In fact, in October total registrations fell by 7.0 percent to 1,127,624 units, decreasing to the same level recorded in October 2018 and reflecting the significant impact caused by the second wave of the pandemic. However, the decrease in registrations recorded in October is the second smallest decline this year.
Last month, EVs registered 302,587 units, taking 26.8 percent of the total market share. For a second month running, EVs outsold diesel cars, with a falling market share of 26.3 percent.
When compared to this period last year, EVs have seen a huge growth of +153 percent, in part due to the success and popularity of mild-hybrid cars. They have become the preferred vehicle for carmakers and consumers looking for greener cars with a more accessible price tag than offered by pure electric and hybrid vehicles. In October, mild-hybrids accounted for nearly a third (32 percent) of EV registrations, with their demand soaring by 427 percent. This impressive growth was aided in part by strong commercial performance from the likes of the Fiat Panda, Ford Puma and Fiat 500.
Pure electric cars (BEV) saw a year-on-year increase of 197 percent, with 71,800 units sold in October. Growth was driven by new launches, including the and placing 29th in the overall ranking, the Volkswagen ID.3 owes much of its success to businesses and fleets, with more than half of these registrations coming from buyers in these areas.
“Similarly to the demand seen for the Tesla Model 3, the Volkswagen ID.3 is another example of how appetite for competitive and stylish electric cars continues to grow day by day” said Felipe Munoz, global analyst at JATO Dynamics. “As a result, Volkswagen Group became Europe’s biggest producer of EVs in October, comprising of 25 percent of the market registrations. Interestingly, the German manufacturer posted a bigger market share in the BEV (29 percent). Volkswagen Group is catching up to its peers at great pace, in part due to its strong presence in Northern and Central Europe, where appetite for EVs continues to grow.”
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