Top cars Europe 2023

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【Summary】New car registrations in Europe increased by 20% in August, driven by the demand for electric vehicles (EVs). EV registrations rose by 102%, with petrol-powered cars still dominating at 53% of registrations. Belgium, Greece, and Luxembourg saw significant increases in EV registrations. Tesla's Model Y was the top-selling car in August and the highest-selling car in Europe so far this year. Tesla's sales surge followed price cuts for the Model Y and Model 3.

FutureCar Staff Oct 02, 2023 4:20 PM PT

New car registrations in Europe saw a 20% year-on-year increase in August, driven by a growing demand for electric vehicles (EVs), according to industry analyst Jato Dynamics. Out of the 900,000 cars sold across 28 European markets, 22% (196,000) were battery-powered, resulting in a 102% increase in EV registrations. Despite this, petrol-powered cars still accounted for the majority of registrations at 53%.

The surge in EV registrations was particularly notable in Belgium (+224%), Greece (+183%), and Luxembourg (+164%). Germany alone accounted for 44% of Europe's total EV registrations in August, with a 171% increase in demand. Felipe Munoz, Jato's global analyst, emphasized that the growth in demand for EVs remains strong, thanks to competitive pricing and continuous government support across Europe.

Tesla dominated the European market in August, with its Model Y securing the top spot for registrations. The Model Y sold 21,549 units, marking a 208% year-on-year increase. It is also the highest-selling car in Europe so far this year, with 169,420 units sold. Munoz predicts that the Model Y is likely to become Europe's most popular new passenger car by the end of the year, which would be a significant milestone for a non-European model.

Furthermore, Tesla's Model 3 also experienced strong sales, with 11,943 units sold, representing a 307% increase compared to the previous year. These surging sales can be attributed to price reductions implemented by Tesla for both the Model Y and Model 3. In the UK, the price of the Model Y was reduced by £8000, while the Model 3 saw price cuts of up to £6500. These discounts were introduced to stimulate sales after the company faced an oversupply of 34,000 units in the final quarter of 2022.

The top five best-selling cars in Europe for August were the Tesla Model Y (21,549), Peugeot 208 (21,549), Volkswagen T-Roc (15,198), Fiat 500 (14,469), and Dacia Sandero (14,428). Overall, Tesla's dominance in the EV market and its competitive pricing strategies have solidified its position as a key player in the European automotive industry.

Looking at the top 10 best-selling cars in Europe so far in 2023, the Tesla Model Y takes the lead with 169,420 sales, marking a 216% year-on-year increase. With its strong performance in the first half of the year, it is expected to maintain its position until the end of 2023.