20 February 2025
The European electric vehicle (EV) market stalled in 2024, following years of growth. But which carmaker came out on top in the region, and did the gap to the leading brand close? Autovista24 journalist Tom Hooker assesses the data.
Over 2.96million EVs were registered in Europe across 2024, according to the latest data from EV Volumes. This equated to a year-on-year decline of 1.8% and a loss of 55,746 units.
However, EVs did see growth in December, bouncing back after recording a fall in November. Registrations improved by 1.3%, with 298,457 deliveries. This represented a gain of 3,713 units compared to one year ago.
The month saw the highest EV volume total since June 2023. This meant it beat March for the best figures recorded in the year.
Battery-electric vehicles (BEVs) accounted for the majority of the EV market in 2024. The technology accounted for 67.7% of all plug-in registrations, up 0.6 percentage points (pp) from 2023.
Plug-in hybrids (PHEVs) captured 32.3% of the market in the full year, down from 32.9%. The powertrain suffered a sharper delivery decline across 2024 than all-electric vehicles did.
BEVs took a 69.5% share of plug-in volumes during December, a drop of 0.7pp compared to one year ago. PHEVs made up 30.5% of total registrations in the month, up from 29.8%.
Who topped Europe’s EV market?
Tesla topped the European EV market for the third year in a row, with the Model Y and Model 3 leading the continent’s plug-in market at the end of 2024. The manufacturer reached 328,036 deliveries from January to December, more than 35,000 units ahead of second place.
However, this figure was a 10.4% decline on its 2023 performance. The carmaker made up 11.1% of the overall plug-in market, down 1pp year on year.
BMW secured second, replicating its result from 2023. This was thanks to 292,407 registrations, representing an increase of 10.7% or 28,156 units year on year. It also marked the brand’s highest-ever European EV total, helped by its iX1 BEV and X1 PHEV. BMW models accounted for 9.9% of deliveries, up from 8.7% in 2023.
Third place went to Mercedes-Benz, improving on its fourth-place finish in 2023. It posted a record 258,677 registrations. This equated to a growth of 10% and a 23,515-unit gain compared to the previous reporting period.
The improvement was driven by models such as the Mercedes-Benz GLC, which landed third in the region’s PHEV table. This gave the brand an 8.7% share of the total volume, an improvement of 0.9pp.
Volvo finished 2024 in fourth, a significant progression from its sixth-place finish in 2023. Its EX30 BEV performed well, while its XC60 led the PHEV market. The SUV was also joined by the XC90 in the top 10.
The manufacturer reached a best-ever total of 239,255 deliveries, a 42% surge year on year. This was the biggest percentage growth recorded in the top 10 and meant an additional 70,745 models were registered. The manufacturer took an 8.1% share in 2024, up from 5.6%.
VW falls from grace in Europe
In fifth came Volkswagen (VW), falling from third place in the previous year. The carmaker suffered a 6.7% decline in volumes, with 229,836 deliveries. This was a loss of 16,546 units compared to one year ago. VW’s share fell from 8.2% to 7.8% in 2024.
Audi landed in sixth. EV registrations for the brand dropped 0.8% to 172,665 units, meaning it fell one position compared to 2023. This is despite the strong performance of its Q4 e-Tron. Overall, the carmaker’s 5.8% market hold was stable from 2023.
Seventh was taken by Kia, with 118,264 deliveries. Despite matching its 2023 placement, this was a 13% decline in volume compared to one year ago. It equated to a difference of 17,720 units. The marque captured 4% of the EV market, a drop of 0.5pp.
Peugeot took eighth, also replicating its performance from the previous year. However, its total of 115,771 registrations was down 10.9% and 14,174 units year on year. The manufacturer accounted for 3.9% of deliveries, down from 4.3%.
In ninth, Skoda moved up two places from its 2023 result. The carmaker saw volumes rise 4.1% compared to the previous reporting period, with 101,629 deliveries. This was mostly driven by its Enyaq BEV, which represented 78% of the overall figure. Skoda models made up 3.4% of the plug-in market, an increase of 0.2pp.
Hyundai rounded out the top 10, matching its 2023 ranking. Yet, the brand recorded a 14.6% decline in registrations, with 94,258 units. This was a loss of 16,053 units compared to 2023. It took a 3.2% share, falling from 3.7%.
Tesla deliveries grow in Europe
Tesla was the best-selling EV manufacturer in December as it experienced its usual end-of-quarter delivery peak. It last led the market in September 2024. The marque reached 44,257 registrations in the month, a 13.2% growth year on year.
Its two most popular BEVs, the Model Y and Model 3, saw improved volumes in December. This gave Tesla a comfortable gap to the competition, as it sat 16,592 units ahead of second place. The carmaker represented 14.8% of the plug-in market, a rise of 1.5pp from December 2023.
BMW fell to second after leading the market in November. It delivered 27,665 units in the reporting month, a drop of 16.2% compared to one year ago. Yet, December was BMW’s second-highest volume month of the year, with its X1 and X5 PHEVs performing well. The brand accounted for 9.3% of registrations, down from 11.2%.
VW took third, with 26,397 deliveries. This represented year-on-year growth of 17.3%, marking its fourth month of registering around 26,000 units. Notably, demand for its ID.7 BEV and Tiguan PHEV picked up. The manufacturer took an 8.8% market share, an increase of 1.2pp.
Next came Mercedes-Benz, recording 24,528 deliveries, improving by 4.6% from 12 months prior. December represented the marque’s highest volume month since March 2024, as its GLC PHEV posted positive figures. It made up 8.2% of the overall EV total, up from 8%.
Volvo finished fifth in December, thanks to its biggest monthly volume since June 2024. The brand posted 21,194 registrations, a 28.1% year-on-year surge. This equated to a 4,645-unit gain, with its XC60 and XC90 PHEVs recording good growth. Volvo models represented 7.1% of the plug-in market, an improvement of 1.5pp.
European brands fall
Audi secured sixth, with 13,646 deliveries. This equated to a fall of 17.6% compared to 12 months ago, despite its Q4 e-Tron BEV posting growth. Its 4.6% share was down from 5.6%.
Renault saw volumes surge 62.5% in December, benefiting from a strong month for the Renault 5. The carmaker recorded 13,285 registrations, an increase of 62.5% or 5,112 units year on year. This was the highest monthly total since December 2022. The brand accounted for 4.5% of deliveries, up 1.7pp.
Cupra ended the month in eighth, with 10,394 registrations. This was a drop of 6% compared to December 2023, as volumes for its Formentor PHEV struggled. However, December marked Cupra’s biggest delivery month of 2024. The brand made up 3.5% of the overall total, a decline of 0.3pp.
Skoda landed in ninth, posting 10,285 registrations, just 109 units behind Cupra. This was a decline of 0.8% year on year and its lowest volume month since August 2024. Its Enyaq BEV, which makes up the majority of its plug-in deliveries, struggled in December. The manufacturer took a 3.4% share, down from 3.5%.
Hyundai placed 10th, with 8,463 registrations. This equated to a fall of 6% compared to December 2023. The carmaker represented 2.8% of the EV market, a drop of 0.3pp.
