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European new energy vehicle sales in March: British BEV surpasses Germany, France's TOP10 model class is closest to China(1)

European new energy vehicle sales in March: British BEV surpasses Germany, France's TOP10 model class is closest to China

UK BEV market is largest in Europe

In March, 55,352 electric vehicles were sold in the UK, accounting for 22.7% of the market, up sharply from 13.5% in the same period last year. Among them, pure electric vehicles sold 39,315 units, accounting for 16.1%, which more than doubled year-on-year; plug-in hybrid vehicles sold 16,037 units, accounting for 6.6%, almost unchanged from 6.1% in March 2021 . The overall auto market totaled 243,749 units, down about 45% from the pre-coronavirus seasonal norm.

Compared with Germany, the largest electric vehicle market in Europe, the UK electric vehicle market is not as large as Germany, but it is the tightest. Moreover, in March, the UK's pure electric vehicle market surpassed Germany's to become the largest pure electric vehicle market in Europe.

In March, Tesla saw another surge in logistics at the end of the quarter, with the Model Y and Model 3 taking the top-selling positions in the UK overall car market and taking the sixth and seventh spots in the overall car market in the first quarter of 2022.

Tesla's dominance of the UK market is very stable, accounting for almost a quarter of all BEV sales. Its closest competitor, Kia, is far behind, accounting for 9.3 percent of the market.

MG's share of the pure electric vehicle market last month was 5.5%, ranking fourth in the brand list.

Relative demand for BEVs (compared to ICEs) will strengthen as fuel cost prices rise. The supply of BEVs, as always, is the weak link. Customer waiting lists for all brands are expected to continue to grow. Tesla's manufacturing capacity is closest to its demand level (though there's still a few months to wait). The manufacturing capabilities of other manufacturers are far behind, and in some cases customers have to wait more than a year to pick up their cars. This obviously helps direct consumers towards "faster delivery" manufacturers.

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