Europe March 2024: Toyota (+9%), BMW (+9.4%) impress in negative market, Dacia Sandero #1 over Q1

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

1/05 update: Now with Top 90 All brands and Top 489 All models (source JATO Dynamics)

25/04 update: Now with Top 25 models (source JATO Dynamics)

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. JATO Dynamics has these figures at 1,377,541 (-2.6$) and 3,380,048 (+4.8%). 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 (-5.2%) dominates but underperforms, while the next four carmakers score market-defying positive results. Toyota (+9%) remains in 2nd position above BMW (+9.4%) up two spots on February to #3 and Mercedes (+1.4%) up four to #4. Renault (+5.2%) is also in great shape, while Skoda (+0.4%) is the only additional gainer in the remainder of the Top 10 but drops three ranks on February to #7. Audi (-19.6%) and Peugeot (-12%) are hit hard while Hyundai (-4.9%) and Kia (-5.7%) limit their fall. Below, Mitsubishi (+206.6%), Honda (+64%), Lexus (+55.7%), Volvo (+33.8%), Suzuki (+21.5%) and Nissan (+18.1%) stand out. Tesla is down -35.5%.

Over in the models ranking, despite a ghastly -41.7% year-on-year fall, the Tesla Model Y ranks #1 in March. It is however just over 1,000 sales above a resurgent VW Golf (+42.9%). Note Germany only accounts for 45% of the Golf’s volume this month, meaning it is also progressing in the rest of the continent. The Dacia Sandero (+22.5%) falls to #3 but manages a fantastic uptick and stays #1 year-to-date. The Model Y is only 4th over Q1 and given end of quarters are the strongest for Tesla, chances are it may not end the year at #1 unlike in 2023. The Nissan Qashqai (+14%) benefits from a strong month in the UK and is followed by the Peugeot 208 (-1.7%). The Toyota Yaris (+39.5%), Renault Clio (+27.2%), Ford Puma (+26.4%) and Citroen C3 (+15.2%) also impress in the remainder of the Top 10.

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, Top 90 All brands and Top 489 All models below.