European BEV Sales Continue Slowdown Despite Overall Market Hike

Sales of battery-electric vehicles in European markets continue to cool despite an overall hike in first-half 2024 car sales on the continent.

Figures published by Jato Dynamics show that while its data for 28 European nations see a 4.4% rise between January to June, overall BEV sales rose by just 2%, propped up by increases in models produced in Chinese factories from brands including BYD, MG, Volvo, Polestar, Lotus and BMW.

Many in the industry expect this Chinese BEV sales surge to be punctured by proposed European Union tariffs likely to be imposed during the second half of this year.

The Volkswagen Group remains the top-selling BEV maker in Europe reporting first-half sales of 178,000 units, a 14% drop in volume compared to H1 2023.

Overall vehicle sales in markets surveyed saw 6,847,842 units sold in H1 2024 compared to 6,559,213 units for the same period the previous year.

Tesla’s aging model lineup is starting to show signs of deceleration in the region, with registrations falling from 185,200 units in H1 2023 to 161,600 units this year through June.

Felipe Munoz, Global Analyst at JATO Dynamics, says: “It’s clear that China has significantly helped to drive growth in the market. Without these competitive prices coming from China, consumers will face higher prices, meaning we could see demand fall over the next few months.”