After three tumultuous years marked by shortages of electronic parts, the European car industry seems to be finally breathing. In 2023, sales of new cars experienced an interesting revival an increase of 13.9% compared to last year.

A turning point was observed, when electric cars overtook diesel sales for the first timewhich is 14.6% market share compared to 13.6% for diesel.

Electricity is gaining popularity in Europe

Hybrid cars benefited the most from this recovery, registering a strong 29.5% increase with more than 2.7 million units sold, accounting for 25.8% of the market. However, sales of plug-in hybrids fell for the first time, with sales down 7% due to the end of subsidies in several countries.

Electric cars continued their rapid rise, registering a growth of 37% compared to the previous year. With a market share of 14.6%, they have overtaken diesel, which continues to fall. Electric vehicles accounted for 9.1% of sales in 2023, up from 1.9% in 2019.

Tesla pioneered this revolution, recording 57% growth in Europe, selling 366,326 units. Tesla has now overtaken such historic manufacturers as Volvo and Nissan, positioning itself just 3,000 units behind Citroën.

2024 looks promising with the arrival of more affordable electric models such as the Citroën ë-C3 and the new Renault 5 priced around €25,000. Chinese rivals such as MG and BYD are also preparing to mark their presence in the European market, still commanding the highest prices, even if certain subsidies, particularly in France, have been removed from them.

Gasoline models are still in the lead

Despite the growth of electricity capacity, gasoline models remain at the head of the European market, registering a growth of 10.6% compared to the previous year. They still account for a significant portion of sales, 35.3%, totaling 3.7 million units.

The recovery of the European market was mainly due to the Volkswagen group, the leader with 2.8 million vehicles sold (+18% for the year), followed by the Renault group with 1.2 million units (+16.9%). Stellantis, on the other hand, remained close to the 2022 figures of 1.9 million vehicles sold (+2.9%), but with a decline in sales of some brands, notably Fiat and Citroën.

According to data from the European Automobile Manufacturers Association (ACEA), markets in France, Italy and Spain showed double-digit growth compared to 2022, contributing to the overall recovery. Germany, on the other hand, saw a decline in December with a 23% year-on-year drop, due to the sudden end of incentives to buy electric cars. Despite this, the German market for the whole of 2023 grew by 7.3%.

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