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European Sales in May: Overall Decline, But Chinese Brands Gain Market Share
According to data from market research firm Dataforce, new car sales in Europe experienced a 2.7% year-over-year decline in May. However, more automakers posted sales growth than those that saw a decrease.In detail, sales for 43 car brands exceeded the market’s overall performance last month, while 32 brands witnessed a drop. Among them, 10 automakers, including Chinese brands XPeng and Jidu, as well as American electric vehicle manufacturer Lucid, saw their sales surge by triple-digit figures or more.
Volvo Cars, for instance, saw a nearly 27% increase in European sales in May, reaching 32,826 units, propelling it from 17th place in the same period last year to 14th. The main driver of this growth was the EX30 model, which has become the leader in the small high-end car market in Europe, surpassing MINI’s offerings just five months after its launch. However, earlier this month, Volvo had to recall some EX30 models due to a software issue.
While Volvo’s EX30 model withstood the pressure of Europe’s sluggish electric vehicle sales, Tesla was not as fortunate. Tesla’s overall sales in Europe plummeted by 37% in May to 17,953 units, dropping its ranking to 20th from 16th in May 2023. Tesla’s German factory halted production for a day in May, and its June sales may also be affected as the company plans to halt production for five days this month.
Based on preliminary data from Dataforce, Toyota overtook BMW in May to become the second-best-selling car brand in Europe, following the Volkswagen brand. Volkswagen saw a 2.9% sales increase in May, leading Toyota by over 47,000 units. Another winner was Renault, which saw its sales rise by 3.5% to 60,129 units. The Clio supermini saw an 11% sales increase, while the Renault Scenic E-Tech continued its strong performance with 1,684 units sold in May. This growth propelled Renault to fourth place in the brand rankings in May, up from seventh in the same month last year.
However, Mercedes-Benz, Audi, and Peugeot did not perform as well as the same period last year. Mercedes-Benz saw a 6.5% decline in sales to 55,178 units, slipping from fifth place in May 2023 to seventh. Audi’s sales fell by 9.7% to 58,061 units, dropping from fourth to sixth in the rankings. Peugeot’s sales slid by 12% to 51,227 units, falling from sixth to eighth place.
Despite impending EU tariffs, Chinese brands have gained more market share in Europe. Chinese automakers’ market share increased from 2.2% in May 2023 to 2.5% in May 2024, with BYD contributing the most to this growth.
According to Dataforce’s preliminary data, the Volkswagen T-Roc was the best-selling model in Europe in May, with a year-over-year increase of more than 12%. The Volkswagen Golf followed closely, with a robust 28% sales increase in May. The Dacia Sandero ranked third, with sales of 18,676 units, down 10% from May 2023.
The model that suffered the biggest sales drop in May was the Tesla Model Y, which also saw its ranking plummet from first in May 2023 to 18th. However, the Tesla Model 3 saw a 20.6% year-over-year increase in monthly sales to 6,975 units in Europe.
Over the first five months of the year, the Sandero was the best-selling model in Europe for three months. As a result, in terms of cumulative sales for the first five months, the Sandero ranked first, leading the second-place Volkswagen Golf by over 11,000 units.
Aside from the Tesla Model Y, the Ford Focus, Fiat 500, and Peugeot 3008 also saw their sales decline by over 20% in the first five months of this year. Notably, the MG ZS improved its ranking from 36th for the first four months to 30th for the first five months.
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