Tesla, Volkswagen, Renault See Strong Share In Europe: Over 1 Million EVs Sold In 11 Months

Tesla, Volkswagen, Renault See Strong Share In Europe: Over 1 Million EVs Sold In 11 Months

Photo courtesy of Tesla.

The European market continues to see strong adoption of battery-powered electric vehicles and plug-in hybrid electric vehicles.

What Happened

Through the first 11 months of 2020, Europeans have registered 1,085,000 new electric vehicles, according to EV Sales Blog and InsideEVs. The 11-month totals are up 198% year-over-year and represent 10% of all new vehicle sales in Europe.

In November, 166,255 new electric vehicles were sold. The total represents 16% market share for new cars in Europe, split evenly between battery powered (8%) and plug-in hybrids (8%). Battery-powered vehicle sales were up 182% year-over-year. Plug-in hybrid sales were up 217% year-over-year. The large increase came as the overall car market saw a 14% year-over-year decline in sales.

The Winners

The top-selling electric vehicle in Europe for November was the Renault ZOE from Renault ADR (RNLSY) with 9,953 units sold. The vehicle also ranks first on the year with 83,000 units sold and has 8% market share.

The Volkswagen (VWAGY) ID.3 was the second bestselling model in November with 8,496 units sold. The vehicle ranks sixth on the year. InsideEVs sees the car finishing third or fourth on the year with a close head-to-head battle coming for the December crown.

The Tesla Model 3 from Tesla Inc. (TSLA) was the fourth bestselling electric vehicle in Europe with 5,014 units sold in November. The vehicle ranks second year-to-date with 63,000 units sold and a 6% overall market share.

December is often the best month for new car sales. InsideEVs sees the month shaping up as a battle between the Tesla Model 3 and the VW ID.3. December could also be a record for electric vehicles, with the possibility of 20% market share. Electric vehicles made up 3.6% of all car sales in Europe in 2019. 

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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