BMW is the best performing brand in the Top 10 in January.

According to preliminary data from ACEA, the European new car market (EU+EFTA+UK) is up 11.5% year-on-year in January to 1,015,381 sales vs. 911,036 a year ago. Among the 5 biggest markets, Germany (+19.1%) fares best on low year-ago volumes, followed by Italy at +10.6%, France at +9.2%, the UK at +8.2% and Spain at +7.3%. As for the other markets, Norway (+175.5%) is the most dynamic on dismal year-ago results, with Croatia (+30.7%), Bulgaria (+24.4%), Poland (+22.1%), Greece (+21.1%) and Cyprus (+19.8%) also shining.  

BEVs are up 29.3% year-on-year to 120,926 and 11.9% share vs. 10.3% a year ago, Norway (+281.3%), Estonia (+134.5%), Slovakia (+106.7%), Belgium (+75.5%), the Netherlands (+72.2%), Greece (+64.8%) registering the biggest surges. France is at 16.4% BEV share, the UK at 14.7%, Germany at 10.5%, Spain at 4.9% and Italy at a meagre 2.1%. PHEV sales are up 24.4% to 80,370 and 7.9% share vs. 7.1% in January, HEVs are up 21.4% to 297,359 and 29.3% share vs. 26.9% last year, petrol is up 2.8% to 363,201 and diesel off -5.4% to 120,625.

In the groups ranking, the Volkswagen Group (+8.1%) trails the market slightly while Stellantis (+16.9%) is in great shape and reclaims the 2nd spot Renault-Nissan-Mitsubishi (+6.7%) held in December. Hyundai-Kia (+1.2%) is wobbly, as the Toyota Group (+9.2%) is relatively flat compared to the market. The BMW Group (+29.7%) delivers a stunning result unlike Mercedes (-10.6%) and Ford (-6.1%).

Brand-wise, Volkswagen (-5.2%) struggles on top, enduring one of only two losses in the Top 9. Toyota (+8%) is back up three spots on December to #2 ahead of BMW (+33.9%), Skoda (+15.2%) hitting its highest ranking since April 2023 at #4, and Peugeot (+22.8%) all beating the market. Audi (+10%) stays at #6 vs. #3 over the Full Year 2023. At #7, Dacia (+7.7%) outsells sister brand Renault (-12.2%) at #10 for only the 2nd time in European history after January 2023. Hyundai (+6.1%) and Kia (-2.9%) underperform in the remainder of the Top 10. Below, notice Mitsubishi (+96.8%), Tesla (+86.3%), Cupra (+79.4%), Nissan (+38%), Opel/Vauxhall (+35.3%) and Lexus (+32%).

The Dacia Sandero is estimated to be the overall best-seller in Europe this month ahead of the VW Golf.

Complete model data will be uploaded to this article when made available to us.

Previous post: Europe Full Year 2023: Tesla Model Y spectacularly takes the lead

One year ago: Europe January 2023: Market up 10.7%, Dacia outsells Renault for the first time, places Sandero at #1

Full January 2024 Top 10 groups and Top 30 brands below.

Europe January 2024 – groups:

PosGroupJan-24/23DecFY231Volkswagen Group258,402+ 8.1%112Stellantis183,120+ 16.9%323Renault-Nissan-Mitsubishi124,685+ 6.7%234Hyundai-Kia86,525+ 1.2%545Toyota Group83,420+ 9.2%666BMW Group72,259+ 29.7%457Mercedes42,258– 10.6%778Ford Motor35,603– 6.1%989Volvo26,033+ 25.2%101010Tesla17,493+ 86.3%89

Europe January 2024 – brands:

PosBrandJan-24/23DecFY231Volkswagen95,498– 5.2%112Toyota78,314+ 8.0%523BMW60,781+ 33.9%244Skoda59,000+ 15.2%775Peugeot57,447+ 22.8%1186Audi53,065+ 10.0%637Dacia51,673+ 7.7%8108Kia44,737– 2.9%1399Hyundai41,788+ 6.1%91110Renault  41,050– 12.2%4611Mercedes40,869– 10.1%3512Opel/Vauxhall39,305+ 35.3%141313Ford  35,603– 6.1%121214Citroën32,646+ 20.3%191515Fiat29,470– 7.5%171416Nissan26,839+ 38.0%181717Volvo26,033+ 25.2%151818Seat24,912+ 24.1%201919Tesla17,493+ 86.3%101620MG16,776+ 26.9%162021Cupra 16,154+ 79.4%212122Suzuki15,795+ 25.4%232223Mazda12,582– 15.9%242424Jeep12,141+ 22.0%262525Mini11,478+ 11.4%222326Land Rover10,351+ 29.0%252627Porsche9,153+ 0.9%272728Honda5,966+ 27.2%292829Lexus5,106+ 32.0%282930Mitsubishi4,911+ 96.8%30n/a

Source: ACEA