Best-selling cars in Europe in March 2024. Tesla Model Y beats everyone

Tesla Model Y is the best-selling car in Europe in March 2024, passing Volkswagen Golf and Dacia Sandero which in the first 2 months of the year was the first time in this particular position (Sandero however the first in the total of the first 3 months). This is what emerges from Jato Dynamics’ latest report on the performance of the European car market.

In March there there were 1,377,541 registrations, a figure that decreased by 2.7% compared to the same month last year. The balance of the first 3 months of the year is positive given that registrations in the first quarter increased by 4.8% compared to the same period in 2023, with 3,380,048 units registered in total. Second Filipe Munoz, an analyst at Jato Dynamics, high prices for new cars are affecting March results. Furthermore, consumers are still reluctant to switch from petrol and diesel vehicles to electric models.

For Munoz, the uncertainty about regulations and the lack of clarity about the incentives available for electric vehicles in many European markets are discouraging buyers.

MENGA IS INCREASING

Doubts about electric cars have caused one the great growth of hybrid models, with 382,700 units registered between January and March this year. This is an increase of 18% compared to the corresponding quarter of 2023. This growth is even greater compared to the same period in 2022 (+50%).

Back in March, the pace of Chinese manufacturers slows down. In fact, almost 33,000 cars were registered in total (including MG), with an increase of only 0.7% compared to March 2023. Electric models represented 36% of the total. By March 2024, electric vehicles produced by Chinese brands account for 6.1% of total BEV registrations.

MG accounted for more than half (61%) of China’s EV registrations in March, followed by BYD (24%) and Great Wall (5%). Registrations of MG models in March fell 38% year-on-year, while registrations of BYD vehicles increased from 427 units to 2,892 units in the same period.

BEST SELLING FASHIONS

Coming to the list of the best-selling cars in Europe in March 2024, in first place we find the Tesla Model Y with a drop of 42% compared to 2023. Followed by the Volkswagen Golf with an increase in volume of 43%. Third, as mentioned, Dacia Sandero with +23%.

Tesla leads the BEV space in Europe with more than 38,600 units registered in March although with a decrease of 36% compared to 2023. Tesla’s market share in the electric segment fell from 27.8% in March 2023 to 19.9% last month. Among electric vehicles, the Volvo EX30 performed well with just under 7,600 registrations. Here are the standards.