European sales of electrified vehicles soared in the final quarter of 2022, with Tesla leading the pack. According to Counterpoint Research data, the American automaker’s sales were driven by the Model Y, which became the best-selling electric vehicle (EV) in Europe last year. Meanwhile, Tesla’s Berlin factory reached a milestone by producing 3,000 units per week in November.
The second-best-selling brand was Volkswagen, whose ID.4 and ID.3 were the fifth and seventh-best-selling electrified vehicles on the continent between October and December 2022. The German automaker sold 48 percent more electrified vehicles in Q4 2022 than in the same period of 2021. With the launch of the facelifted ID.3 and new models in the pipeline, Volkswagen is likely to continue giving Tesla a run for its money.
The Ford Kuga plug-in hybrid was the third-best-selling electrified vehicle in Europe in Q4 2022. However, Ford’s only model in the top ten sales charts was an indication of how far the automaker still needs to go to catch up with its rivals.
Chinese automakers are also beginning to break into the European market, leveraging their low prices and strong production capacity to woo consumers. The Lynk & Co 01 was the eighth most popular electrified vehicle in Europe at the end of last year.
Germany led the sales charts, with its residents accounting for 38.7 percent of EV buyers continent-wide. The United Kingdom and France were second and third, respectively, followed by Norway and Sweden.
Overall, the fourth quarter of 2022 was a successful one for electrified vehicles, with sales of fully electric and plug-in hybrid vehicles growing by 34 percent across the continent. The total number of electrified vehicles sold in Europe in 2022 reached 2.7 million, and sales are expected to keep climbing.
According to Soumen Mandal, senior analyst at Counterpoint Research, electrified vehicles “contributed over 29% of Europe’s total passenger vehicle sales in Q4 2022. We expect that more than 4 million EVs will be sold across Europe in 2023.”
As the competition in the EV market continues to intensify, it will be interesting to see which automakers emerge as the dominant players in the years ahead.
