While the auto market continues to fall, electric vehicle (EV) registrations in Europe soared to a record 11% share last month.
Tesla and Fiat were the market leaders in February 2022. EVs and plug-in hybrids gained a 19.4% market share.
Last month, car registrations in Europe continued to fall for 3 years in a row. They are down 5.4% compared to February 2021, 25% lower than Feb 2020 and whopping 30% down compared to Feb 2019 with just 794,600 units registered in February 2022.
It was actually the worst February for the last 42 years, according to the data from JATO.
Falling car registrations are obviously not good for employment rates and economy. However, the good news is that registrations of pure electric vehicles are soaring with 11% market share and 87,400 units in February.
If we add plug-in hybrid registrations, we are up at 19.5% market share.
Tesla led EV registrations in Europe in February this year with 15,800 units (+188% vs Feb-21). Tesla’s market share jumped from 11,1% last February to 18.1% this February with the EU launch of Model Y.
Tesla Model 3 took the first spot and Model Y second spot in Europe.
Surprisingly, the third spot was occupied by a small Fiat 500E with 3,800 units (+74%). It made up 38% of the Fiat 500 total regs. It was followed by Kia e-Niro with almost 3,500 units.
The crossover Hyundai IONIQ 5 took the 5th spot, outselling its older rivals VW ID.4 and Skoda Enyaq.
Volkswagen failed on the sales of its electric hatchback ID.3 (-40%) and mini car e-Up!, which was down 65%.
Mini Cooper SE has shown an impressive growth over the last year (+92% and ranked 10th in Europe). Polestar 2 electric sedan saw was up +72%, Volvo XC40 Recharge +91%, Citroen C4 +221%, Mercedes EQC +92%, Porsche Taycan +73%, Audi e-tron GT +125%, and Mercedes EQV +89%. All of these model were also available one year ago.