EVs achieve record sales with 16% market share in Europe

Date: Thursday 01 July 2021

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Last month, the European new car market saw an increase in total volume of 73% compared with May 2020. According to data from JATO Dynamics for 26 European markets, volume totaled 1,073,987 units, taking the year-to-date total to 5,150,831 units. Despite this increase, volume was 25% lower than May 2019 as the market continued to feel the effects of the pandemic.

Felipe Munoz, global analyst at JATO Dynamics commented: “The data is encouraging but the market is recovering slower than many had hoped. Economic uncertainty and a lack of consumer confidence are limiting growth at a time when the industy is also shifting away from traditional powertrains and adapting to strict CO2 emissions regulations.”

The performance of Volkswagen Group in securing the second highest monthly market share since 2001 is impressive when considering the challenges currently faced by the industry. The German manufacturer’s share totaled 28.14% during May, second only to April 2020 when it secured 29.23% as rival’s sales were harder hit by the onset of the pandemic in Europe.

The positive results in May were due to strong performance from brands such as Audi, Skoda, Seat, and Cupra. Total sales were boosted by increasing consumer demand for EVs and SUVs – with Volkswagen Group now leading in Europe across both segments.

EVs posted a record share of registrations in May – with 16% - while SUVs made up almost 45% of the total volume. Munoz added: “It has become clear that having the right offering across both of these segments will be crucial to the success of OEMs over the coming years.”

Registrations of pure electric cars and plug-in hybrids totaled 171,415 units, up by 279% compared with May 2020. BEV volume totaled 83,700 (+261%), and PHEVs totaled 87,700 (+299%). The market share for SUVs jumped from 40.2% in May 2020 to 44.6% last month. In May 2018, SUVs accounted for 34% of the market.

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