March has been another great month for electric vehicles as statistics by JATO Dynamics showed that in Europe EVs registered a record 16% market share.
That is a massive increase compared to last year’s 9.7% and just 3.4% in March 2019. EVs are not the only category that has seen its share improve as SUVs have grown to 45%. It is expected that soon the two categories combined will be a driving force on the market, according to Felipe Munoz, global analyst at JATO Dynamics.
“The success of EVs and SUVs stand as a good indicator that consumer demand will soon be focused toward upcoming electric SUV models, which will be a key driver of growth for the industry moving forward,” he said.
Meanwhile, in March 2021, diesel cars recorded their lowest market share to date at just 24%. With the European Commission continuing to introduce tougher CO2 regulations, the shift away from diesel and other high-emissions fuel types is likely to continue.
It was an outstanding month for Tesla in particular as the Model 3 was the top selling car in the European BEV rankings in both March and Q1. Last Month, Tesla sold an incredible 23,616 Model 3s, which corresponds to a massive 55% increase from last year. The very strong month for Tesla has also made the Model 3 the fourth most sold vehicle in Europe across all fuel types.
Overall, last month, new car registrations increased by 63% in Europe compared with March 2020, when the COVID-19 pandemic hit. According to JATO data for 26 markets across the region, volume rose from 842,094 to 1,374,313 units, bringing the Q1 volume to 3,045,703, which is the lowest total volume of new car registrations for a first quarter since 1986.