Electric cars on the rise in Europe as MG overtakes Jeep and Mini – Car Dealer Magazine

Sales of electric vehicles rose in Europe in August, leading MG to beat brands such as Jeep and Mini, the latest data shows.

BEV (battery electric vehicle) registrations more than doubled that month, Jato Dynamics said, while the overall market grew by 20 percent in August 2022.

Although electric vehicle volume jumped 102 percent and gasoline grew 11 percent more, gasoline still accounted for more than half of the market at 53 percent.

Belgium (+224%), Greece (+183%), Luxembourg (+164%) and Portugal (+164%) posted the strongest growth in EV registrations, while Chinese models continued.

MG experienced the second largest growth in market share between August 2022 and August 2023, behind Tesla whose BEV market share rose by 7.1 percent to 17.3 percent.

Jato said the Chinese-owned British brand is now out of the top 20 European car sales in 21st place, overtaken by the likes of Jeep, Mazda, Mini and Suzuki.

In the BEV market, MG registered more vehicles than Audi, Opel/Vauxhall, Peugeot, Renault or Skoda.

MG’s volume reached 69 percent of the total 197,800 units registered by Chinese car brands through August.

Jato data also shows that Tesla’s continued success and the rise of MG are affecting brands such as Ford, Hyundai-Kia, Stellantis, and Volkswagen.

The company said Stellantis needed more electric models as diesel sales continued to decline, while new EV releases from Volkswagen and Hyundai-Kia were ‘not in line with market averages’.

Meanwhile, the Tesla Model Y was the best-selling car in Europe in August and is on track to become the best-selling car overall in 2023.

Felipe Munoz, global analyst at Jato Dynamics, said: “Although current industry discussions often point to a slowdown in BEV growth, our data shows that demand growth is still strong, due to increased price competition, and continued support from governments across Europe.’

He added: “Many factors have led to this growth in demand for Tesla vehicles. However, most importantly, the recent price cuts for the Model 3 and Y have helped it gain momentum, despite a limited and outdated lineup.

“The question now is how European competitors will remain competitive and produce equally affordable BEVs.”