European new car registrations growth slowed in September [Top 25 models sold. 🥇 Tesla Model Y #1, BYD nowhere to be found]

[Hamartia Antidote]

European new car registrations growth slowed in September

New car registrations across Europe recorded the slowest rate of growth this year, in September.

www.fleetnews.co.uk

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New car registrations across Europe recorded the slowest rate of growth this year, in September.

The number of new cars sold in the continent was still 10% ahead of September 2022's performance, however.

Figures from Jato Dynamics show demand for electric vehicles (EVs) was high. Last month, EV registrations totalled 186,380 units, accounting for 16.1% of the market – an increase of 13% when compared to September 2022.

Felipe Munoz, global analyst at JATO Dynamics, said: “Despite financial pressures such as rising inflation and interest rates, alongside geopolitical uncertainty, the European car market has seen consistent growth over the course of this year. While EVs have been a key driver of this growth, it is unlikely that this will be sustained for much longer, considering truly affordable ICE alternatives now remain a rarity in the market.”

Year to date, a total of 1,465,249 new electric passenger cars have been registered, marking a 47% increase when compared with the same period last year.

Munoz added: “Despite higher prices, these vehicles have a considerable presence within the market. Now, we will only see this growth continue if and when cheaper alternatives arrive.”

The popularity of SUVs continued to support BEV sales, accounting for 60% of total BEV volumes in September. The market share of these vehicles was bolstered by strong sales of the Tesla Model Y (pictured), Europe's best-selling EV.

Munoz said: “It’s very likely that the Tesla Model Y will finish the year as Europe’s most registered new vehicle. Considering Tesla’s strong performance across its range, the brand also has the potential to shock the industry by outselling legacy local OEMs such as Fiat or Citröen.”

Despite the success of the Model Y, Tesla’s registrations fell by 19% in September due to declining demand for the Model 3. The midsize saloon is currently undergoing a facelift which can dampen sales performance in the short term as consumers wait for the arrival of the new model. Tesla registered its millionth vehice in Europe, this month.

MG registered more than 26,500 units, marking a 91% increase on the same month last year. This takes the brand’s year-to-date volume to almost 163,200 units, up by 126%. In terms of volume, MG is already outperforming competitors including Suzuki, Mazda, and Mini. Last month, the MG 4 was Europe’s second most registered electric vehicle – its best performance since being introduced in September 2022. Over this period, MG has registered more than 57,800 units of this compact hatchback.

 

[MajesticPug]

The post title is a trolling. The additional title is unneccessary, mocking, and not adding positive knowledge to readers. Where are the mods? What is the standard of labeling a post trolling and banning the post?

 

[StraightEdge]

Small bits of happiness for the OP> I could share the entire revenue growth, unit sales growth, profit growth etc., But I want him to enjoy some good moment for taking the effort to post this.

 

[Hamartia Antidote]

Small bits of happiness for the OP> I could share the entire revenue growth, unit sales growth, profit growth etc., But I want him to enjoy some good moment for taking the effort to post this.

Remember Chinese exports of their excess gasoline cars due to the rise of local EV purchasing are flooding the EU market with cheaper high quality cars. This is "the" year of the rise of Chinese car exports. Record exports surpassing Japan. Not last year or the year before..but this is the year of the Chinese car.

We look at the 2022 list and sure enough not much has changed.

 

[Menthol]

It's hard to change people's minds when it comes to a car brand.

A car is expensive, some people saw it as someone kind of "investment" (despite it's not).

Despite A is better than B, people will still choose B over A, because they are more familiar with B, and feel safer to buy B over A.

The car cycle is also slow, usually manufacturers change their model at minimum three years.

It takes three years to change people's minds with a new offer.


One example is Korean brands.

Despite the fact that the car is good, it takes decades before people realize it's worth buying.


The only thing that is able to change people's minds fast is if the gap between a new card and an old gap is huge.

Like for example Tesla.

It's a head turning moment.

 

[Hamartia Antidote]

It's hard to change people's minds when it comes to a car brand.

A car is expensive, some people saw it as someone kind of "investment" (despite it's not).

Despite A is better than B, people will still choose B over A, because they are more familiar with B, and feel safer to buy B over A.

The car cycle is also slow, usually manufacturers change their model at minimum three years.

It takes three years to change people's minds with a new offer.


One example is Korean brands.

Despite the fact that the car is good, it takes decades before people realize it's worth buying.


The only thing that is able to change people's minds fast is if the gap between a new card and an old gap is huge.

Like for example Tesla.

It's a head turning moment.

For the typical mainstream car buyers nobody feels like spending a huge amount of money on a big unknown.

For instance Lucid is an American EV brand..but isn't selling crazily in the US because nobody wants to "jump on the bandwagon" until there is a bandwagon.

The guy who did the above review is the same person that did the review of the Tesla Model S 10 years ago that caused a surge in interest in Europe.

The reason the Tesla Model 3/Y sells so well is because people had been reading the good review about their expensive models for a decade so when they made cars at half the price people were less wary.