As expected, the first quarter of 2023 builds on the momentum of 2022 in terms of electric vehicle sales. While most manufacturers are doing well in the face of general enthusiasm, it is Tesla, and the Model Y in particular, that stands out according to JATO Dynamics data. Compared to the first quarter of 2022, the Model Y has jumped from 31st to the top of the best-selling electric cars.
Tesla Model Y sweeps the board: more than 71 thousand units sold
The data for the first quarter of 2023 confirms the growth trend that was already predicted in the 2022 figures.
In fact, in March 2023 alone, we experienced a 26% increase in electric vehicle registrations in Europe. For the quarter as a whole, this represents a 17% increase compared to Q1 2022. For those interested in numbers, this means that in the same period, registrations increased from 2.74 million to 3.22 million.
As can be seen in the chart above, the top positions in electric car sales are once again held by Tesla, with more than 71 thousand units sold in Europe of its Model Y SUV and a growth of 173% compared to the first quarter of 2022. This number one position was already reflected in the 2022 electric vehicle sales data. The Model Y's results in the first quarter of the year have unseated the Model 3, which, despite a 40% drop in registrations, still occupies second place, with almost 20,000 units sold. Third place goes to the Volkswagen ID.3, with more than 17,000 units sold, and a 105% increase over the previous year. And the ID.4 is almost on a par, also up 52%. The Dacia Spring remains in fifth place, with more than 14,000 units sold and a 56% growth, one of the most popular urban electric cars, along with the Fiat 500 and Peugeot 208.
Overall, pure electric vehicles account for a total of 13.4% of new car registrations in Europe, i.e. 430,700 units put into circulation. This is a historic figure, probably due to the incentives still in place and the reduction of supply chain problems (due to the semiconductor crisis, among others).
Sales of plug-in hybrids remain steady
Registrations of plug-in hybrid cars in the first quarter of the year show no year-on-year growth, with 233,347 units sold.
The Ford Kuga, with almost 12,500 units and a rise of 9%, is in first place. It is followed by the Volvo XC60, with almost 9,500 units, and a 22% growth. In third place is the Chinese SUV Link & Co 01, up 186% with 8,250 units sold. Close on its heels is the Kia Sportage, up 361%.
Tesla, Dacia and Volkswagen on the podium of best-sellers
As mentioned in the introduction, in the first quarter of 2023, the Tesla Model Y dominated the European car market, registering a staggering sales growth of more than 170% year-on-year. The Model Y significantly outperformed the former leading Dacia Sandero, which still saw sales increase by 27% to 60,202 units.
Although the Tesla Model Y was already the best-selling car in September and November 2022, this is the first time it has topped the list for a full quarter.
Volkswagen is not far behind, however, and its T-Roc, with 54,960 sales, takes third place with a 50% increase. And paradoxically, in the first quarter of 2023, Volkswagen became the most popular brand in Europe with a total of 332,723 sales. The German manufacturer even has the luxury of overtaking Toyota, with 220,019 sales, and Peugeot, with 178,572. We can bet that Volkswagen will continue to grow in importance with the launch of the ID.7, its top-of-the-range electric saloon that should revolutionise the range of electric vehicles.
The Peugeot 208 is in fourth place, with a modest increase of 3% for a total of 53,336 sales between January and March. The Opel Corsa is not far behind, with 53,307 units sold for an increase of 38%.
Last but not least, while the Tesla Model Y tops the sales charts, the same cannot be said for the Tesla Model 3, whose sales have fallen by 40%. But it will take more than that to curb the ambitions of Elon Musk's firm, which is aiming for no less than 2 million cars delivered by 2023.
Chinese competition is already present in 2023
Although Tesla seems to dominate the market by far, things could change with the rise of Chinese manufacturers. Indeed, all indications are that the sector is about to undergo a major transformation with the arrival of the latter, in particular the BYD group, which is none other than the world's second-largest electric vehicle manufacturer.
In the first quarter of 2023, BYD achieved particularly impressive sales figures worldwide, with 264,647 electric cars sold. Compared to the same period of the previous year, BYD has precisely doubled its sales. This development bodes well for the Chinese giant, which plans to enter Europe this year with its Seal and Dolphin models.
In the ranking of the best-selling electric vehicles in the first quarter of 2023, we can also see the presence of the Chinese group SAIC, owner of MG and Maxus. Yes, the popularity of the MG 4, recently introduced in the European market, tends to confirm the trend and present the company as one to watch this year. March figures show that the MG 4 made an impressive entry into the market in seventh place, before moving up to sixth place in April, ahead of the Renault Zoé and Peugeot 2008.
Top 10 best-selling models in Europe in the first quarter of 2023
To give you a clearer idea of the most popular models in the European market, here is a list of the top 10 best-selling models in Europe from January to March 2023.
1. Tesla Model Y: 71,683 units (+173%);
2. Dacia Sandero: 60,202 units (+27%);
3. Volkswagen T-Roc: 54,960 units (+50%);
4. Peugeot 208: 53,336 units (+3%);
5. Opel Corsa: 53,307 units (+38%);
6. Toyota Yaris Cross: 53,050 units (+57%);
7. Fiat 500: 45,598 units (+30%);
8. Dacia Duster: 45,310 units (+31%);
9. Renault Clio: 44,134 units (+16%);
10. Volkswagen Golf: 42,903 units (-8%).
In short, it is undeniable that 2023 has begun under the sign of electric cars, with a significant increase in sales in the first quarter. Despite a significant drop in sales of the Tesla Model 3, Elon Musk's company continues to have great ambitions, fueled in particular by the success of the Tesla Model Y. It remains to be seen what the future holds with the massive arrival of Chinese manufacturers, be it the well-established SAIC group or BYD. In any case, the rise of electric vehicles is a clear trend that is confirmed with each new quarter. Competition is intensifying and the market dynamics could see new developments that will definitely benefit users.
