Toyota remains the 2nd best-selling carmaker in Europe.

According to preliminary data from ACEA, the European new car market (EU+EFTA+UK) is down -2.8% year-on-year in March to 1,383,410 units vs. 1,423,222 a year ago in March 2023. The Q1 volume is up 4.9% to 3,395,049, 158,500 more sales than over the same period in 2023. Among the Top 5 markets, the UK (+10.4%) is the only one in positive, with France off -1.5%, Italy down -3.7%, Spain down -4.7% and Germany off -6.2%. Year-to-date, the UK is up 10.4%, France and Italy up 5.7%, Germany up 4.2% and Spain up 3.1%. Other great performing market in March include Bulgaria (+29.2%), Hungary (+12.2%) and Portugal (+6.2%). At the other end of the scale, Iceland (-70.9%), Norway (-49.7%), Estonia (-25.7%) and Romania (-25.3%) implode.

In March, the main piece of news is the -11% year-on-year fall of BEV sales across the continent to 196,411 and 14.2% share vs. 15.5% in March 2023. PHEV sales are up 0.7% to 99,867, HEV sales soar 15.4% to 423,993, petrol is down -8.2% to 491,892 and diesel off -18.4% to 139,826. Over Q1, BEVs edge up 3.5% to 448,228 and 13.2% share vs. 13.4% over Q1 2023. PHEV are up 10.4% to 252,643, HEV up 19.7% to 1,010,500, petrol down -1% to 1,210,920 and diesel off -10.8% to 378,252. Looking at rechargeable vehicles market share across the Top 5 markets, in March France is at 28% (19% BEV and 9% PHEV), the UK at 22.9% (15.2% BEV and 7.7% PHEV), Germany at 18% (11.9% BEV and 6.1% PHEV), Spain at 10.3% (4.4% BEV and 5.9% PHEV) and Italy at 6.8% (3.3% BEV and 3.5% PHEV). Over Q1, France is at 26.7% rechargeable share (18% BEV and 8.7% PHEV), the UK at 23.3% (15.5% BEV and 7.8% PHEV), Germany at 18.2% (11.7% BEV and 6.5% PHEV), Spain at 11.1% (4.7% BEV and 6.4% PHEV) and Italy at 6.1% (2.9% BEV and 3.2% PHEV).

In the groups ranking, both the VW Group (-6.6%) and Stellantis (-8.7%) fall faster than the market but retain the top 2 spots. In contrast, Renault-Nissan-Mitsubishi soars 11.6% and is up 10.3% year-to-date. Hyundai-Kia (-5.6%) is shy at #4 ahead of Toyota Group (+10.9%) in outstanding shape. Brand-wise, Volkswagen (-6.6%) dominates but underperforms, while the next four carmakers score market-defying positive results. Toyota (+8.6%) remains in 2nd position above BMW (+7.7%) up two spots on February to #3 and Mercedes (+3.2%) up four to #4. Renault (+6.3%) is also in great shape at #5 vs. #6 last month. Skoda (+1.9%) is the only additional gainer in the remainder of the Top 10 but drops three ranks on February to #7. Audi (-20.3%) and Peugeot (-12.7%) are hit hard while Hyundai (-5.2%) and Kia (-5.9%) limit their fall. Below, Mitsubishi (+206.6%), Honda (+64%), Lexus (+55.7%), Volvo (+32.5%), Suzuki (+19.9%) and Nissan (+19.3%) stand out.

Previous month: Europe February 2024: Market up 10.2% year-on-year

One year ago: Europe March 2023: Tesla Model Y #1 over Q1

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

Europe March 2024 – groups (Source ACEA):

PosGroupMar-24/23Feb2024/23PosFY231Volkswagen Group323,773– 6.6%1827,568+ 0.7%112Stellantis228,740– 8.7%2598,167+ 4.2%223Renault-Nissan-Mitsubishi187,177+ 11.6%3438,787+ 10.3%334Hyundai-Kia112,692– 5.6%4278,432– 1.3%445Toyota Group102,400+ 10.9%5261,707+ 11.8%566BMW Group96,961– 0.9%6234,622+ 11.8%657Mercedes81,717+ 2.8%7172,957– 2.2%778Ford Motor48,161– 21.7%8116,538– 15.9%889Tesla40,109– 34.9%986,443– 8.5%10910Volvo38,582+ 32.5%1092,142+ 31.7%910

Europe March 2024 – brands (Source ACEA):

PosBrandMar-24/23Feb2024/23PosFY231Volkswagen128,716– 6.6%1322,076– 4.3%112Toyota95,358+ 8.6%2244,632+ 9.9%223BMW80,371+ 7.7%5195,807+ 18.8%344Mercedes79,422+ 3.2%8166,991– 2.3%655Renault  70,144+ 6.3%6160,718+ 1.0%866Peugeot68,786– 12.7%3184,276+ 3.0%587Skoda67,460+ 1.9%4187,933+ 11.8%478Audi64,952– 20.3%9164,195– 8.3%739Kia59,335– 5.9%11143,151– 3.6%10910Hyundai53,357– 5.2%10135,281+ 1.3%111111Dacia52,993– 2.2%7151,497+ 3.2%91012Nissan51,988+ 19.3%19103,259+ 25.2%151713Opel/Vauxhall48,445– 10.0%13122,049+ 4.8%121314Ford  48,161– 21.7%15116,538– 15.9%131215Citroën45,515– 3.0%12114,829+ 11.4%141516Tesla40,109– 34.9%1786,443– 8.5%181617Volvo38,582+ 32.5%1892,142+ 31.7%171818Fiat37,657– 8.3%14101,383– 2.2%161419Seat28,346– 0.2%1670,794+ 3.0%191920MG25,992+ 8.5%2258,621+ 30.7%202021Suzuki24,109+ 19.9%2058,445+ 30.8%212222Cupra 20,951+ 5.2%2149,548+ 25.3%222123Mazda20,227– 14.5%2345,141– 11.7%232424Land Rover19,154+ 4.0%2736,170+ 11.9%262625Mini16,589– 28.5%2538,815– 13.7%242326Jeep13,426+ 7.2%2436,849+ 14.4%252527Honda12,754+ 64.0%2924,131+ 49.5%282828Porsche12,503+ 9.2%2631,004+ 14.6%272729Mitsubishi11,586+ 206.6%2822,334+ 157.5%29n/a30Lexus7,042+ 55.7%3017,075+ 49.2%3029

Source: ACEA