Tesla Model Y was the best-selling car in Europe in August 2023. Strong sales strengthened the car’s position, cementing its place as the best-selling car in Europe for eight months of 2023.
JATO Dynamics has published vehicle sales data for 28 European markets. The European new car market expanded in August 2023, marking the 13th month of growth in passenger car registrations. Although Volkswagen and Toyota remained the best-selling car brands in Europe, both began to lose market share. Meanwhile, Tesla, with its Model Y, again demonstrated the best result.
Felipe Munoz, Global Analyst at JATO Dynamics, commented: “Although the current industry debates often point towards a slowdown in growth for BEVs, our data shows that growth in demand remains strong, due to their increasingly competitive pricing, and continuous support from governments across Europe.”
In August 2023, the European Union (EU) petrol car market increased marginally by 2.1%, although its market share fell to 32.7%. Registrations of battery electric vehicles (BEVs) in the EU increased by 118.1%, reaching 165,165 units, representing 21% of the market. The share of diesel cars is now 12.5%.
“With an influx of Tesla models and the introduction of BEVs from Chinese OEMs – both of which are competing to produce competitively priced vehicles – demand for EVs across Europe is booming,” Munoz added.
Tesla Model Y has once again become the best-selling car in Europe. In August, the company managed to sell 21,549 units, up 208% compared to the same period last year. The SUV was out of competition as its closest competitor, Peugeot 208 with 15,840 sales, lagged behind by an impressive 5,709 units. Volkswagen T-Rock is in third place with 15,198 units. Fiat/Abarth 500 with 14,469 units and the Dacia Sandero with 14,428 are in fourth and fifth place respectively. Notably, Tesla Model 3 also saw a significant increase in sales compared to the same period last year, ranking 10th on the list with 11,943 units sold.
In the first eight months of the year, sales of Tesla Model Y amounted to 169,420 units, which is the highest figure of any car model available in Europe. “It’s likely that the Model Y will become Europe’s most popular new passenger car by the end of the year. As a non-European model leading in Europe, it will be a remarkable and historic moment,” noted Munoz. Model Y led in Belgium, Denmark, Netherlands, Norway, Sweden, and Switzerland, as well as hitting the top five in both Germany and the UK.
In August 2023, Tesla increased its market share by 2.43 points in the overall European new car market, setting a new record of 3.76%. The brand’s BEV market share has jumped from 10.2% in August 2022 to 17.3% in August 2023. Between January and August 2023, Tesla registrations totaled 236,400 units.
Munoz, commented: “Multiple factors have led to this growth in demand for Tesla vehicles. However, most significantly, the recent price cuts of the Model 3 and Y have helped it keep momentum, despite a limited and somewhat outdated line-up. The question now is how European competitors will remain competitive and produce equally affordable BEVs.”