European Car and Van Market Developments in 2023
The European automotive market saw significant growth in 2023, with new car registrations increasing by an average of 13% compared to the previous year. The fourth quarter showed a 4% increase compared to the same period in 2022. Tesla led the market with an 80% increase in registrations, followed by Volkswagen with a 17% increase. In contrast, Ford and Stellantis experienced stagnant growth, with -3% and +2% changes respectively.
Electric Vehicle Adoption
Battery electric vehicles (BEVs) accounted for an average market share of 15% in 2023, rising to 17% in the fourth quarter. This represents a four percentage point increase from the 2022 average. Norway, Iceland, Sweden, and Finland led the way with BEV and plug-in hybrid electric vehicle (PHEV) market shares exceeding 50%. Among major markets, Belgium saw the largest increase in BEV registrations, rising 9 percentage points in 2023 compared to 2022.
Van Registrations and Electric Vehicle Trends
Nearly 1,470,000 new vans were registered in Europe in 2023, marking a 15% increase over 2022. Volkswagen led with a 28% increase, while Mercedes-Benz saw only a slight 4% increase. Battery electric vans represented 8% of new van registrations in 2023, up from 5% in 2022. Ford lagged behind with only 3% market share for battery electric vans.
Charging Infrastructure Expansion
By the end of 2023, Europe had approximately 700,000 public charging points, representing a significant increase from the previous year. Alternating current (AC) charging points grew by 35%, while direct current (DC) charging points saw a 61% increase. Denmark recorded the largest growth in AC chargers (+109%) and second-largest in DC chargers (+134%), while Belgium led with a 154% increase in DC charging points.
Regional Variations in Charging Infrastructure
Norway continued to lead Europe in charging infrastructure, with nearly 31 22 kW-equivalent publicly accessible charging points per thousand passenger cars and vans. Other countries like Iceland, the Netherlands, and Denmark also showed significant development in charging infrastructure. In contrast, Italy and Spain remained below the European average.
Manufacturer Compliance with CO2 Targets
All manufacturers were able to meet their specific CO2 emissions targets for 2023, with an estimated average over-compliance of about 14 g CO2/km for passenger cars and 2 g CO2/km for vans. The report highlights the progress made in reducing CO2 emissions and the ongoing transition to electric vehicles in the European automotive market.
