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Chinese Automakers · European Auto Market · EV Sales · Tesla Growth
Europe's car market grew 3.6% in May, driven by a 39.1% surge in battery-electric vehicle registrations, as Chinese brands like Leapmotor and BYD, alongside Tesla, significantly expanded their market share, while traditional European automakers experienced declines, according to ACEA data reported by Reuters.
Total car registrations in the European Union, Britain, and the European Free Trade Association increased to 1,152,523 vehicles. This growth was primarily fueled by electrified vehicles, with plug-in hybrids climbing 13.2% and hybrid cars rising 8.2%, collectively representing over two-thirds of new registrations.
The European Automobile Manufacturers' Association (ACEA) attributes this momentum to robust consumer demand, supported by new tax benefits and incentive schemes. Conversely, demand for traditional internal combustion engines sharply declined, with both petrol and diesel sales falling approximately 19%.
This shift led to legacy European carmakers, including Renault, Stellantis, and Volkswagen, experiencing registration slips between 1% and 3%. In stark contrast, Chinese automakers posted substantial gains: Leapmotor's sales surged 465.1%, Chery jumped 244.1%, and BYD increased 136.6%.
Tesla also demonstrated a strong recovery, with registrations soaring 107.9% to 28,610 units, marking its fourth consecutive month of rebound after more than a year of declines.