Top cars Europe 2023

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【Summary】New car registrations in Europe increased by 20% in August, driven by demand for electric vehicles (EVs). EV registrations grew by 102%, with petrol-powered cars still leading at 53% of registrations. Belgium, Greece, and Luxembourg saw the highest increases in EV registrations. Tesla's Model Y was the top-selling car in August and the year so far, with 169,420 units sold. Tesla's pricing cuts and competitive offerings contributed to its surge in sales.

FutureCar Staff Oct 02, 2023 9:23 AM PT

New car registrations in Europe experienced 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. EV registrations as a whole saw a significant increase of 102%. However, petrol-powered cars still dominate the market, accounting for 53% of registrations.

Belgium, Greece, and Luxembourg saw the most dramatic growth in EV registrations, with increases of 224%, 183%, and 164% respectively. Germany alone accounted for 44% of Europe's total EV registrations in August, experiencing a 171% increase in demand. Felipe Munoz, Jato's global analyst, noted that despite debates about a potential slowdown in EV growth, the data shows that demand remains strong due to competitive pricing and government support across Europe.

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

The Tesla Model 3 also saw a significant increase in sales, with 11,943 units sold, representing a 307% year-on-year increase. These surging sales can be attributed to Tesla's decision to slash prices for the Model Y and Model 3. In the UK, the prices of the SUV were reduced by £8000, while the saloon's price was reduced by up to £6500. These discounts were introduced to stimulate sales after the company faced a surplus 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).

Europe's top 10 best-selling cars so far in 2023 are as follows:

Tesla Model Y - 169,420 sales, +216% year on year
[Remaining cars in the top 10 list]

Tesla's dominance in the global EV market continues, and it appears that the Model Y is set to secure a top position in this year's European sales charts. The Model Y's current success as the best-selling car of the year raises the question of whether it can maintain its position until the end of 2023.