In recent times, the “locomotive” that has driven sales of new cars in Europe has been made up of SUVs and electric cars. However, the latest recorded sales figures are causing a lot of concern in the European car industry. Is the party over? Sales of SUVs and electric cars have seen their biggest drop since 2020.
The automotive sector in Europe is facing a whole series of very important challenges. The stock crisis in dealerships due to the global shortage of microchips and semiconductors continues to take its toll. In addition, to this problem, which seems to be far from being solved, we must add the prevailing economic uncertainty due to inflation, the increase in the cost of energy, etc… The situation is very complicated.
These issues directly affect the sales figures. The European market continues to decline. In the month of June 2022 the car sales in Europe have accounted for a total of 1,054,807 unitswhich represents a 17% drop when compared with the data obtained in the same period of time last year. To get a clearer idea of the seriousness of this result, suffice it to say that it is the worst month of june since 1993.
When it comes to cumulative sales figures, things are no different. Between the months of January and June, new car registrations accumulated 5,537,670 units, 14% less than in the first half of 2021. A downward trend has been maintained for months. However, it has not been until now when all the alarms have really gone off. And it is that there is a serious risk that “the locomotive catches the flu.”
The fall of SUVs and electric cars in Europe
It’s been quite a while since SUV-type vehicles and electric cars make up the so-called “locomotive”
that drives new car sales in Europe. In the worst months, despite the market downturn, the combination of SUV and electric car sales figures has been key to avoiding a complete crash. Unfortunately, June sales figures indicate that there is a real risk that this role will fade and be a thing of the past.
The SUV and electric cars have closed June in negative. registrations of SUV-type vehicles have fallen by 7% compared to June 2021, marking a 4% decline year-to-date. Despite this, they still hold a record market share of 49.5%. Approximately one in two new cars sold in Europe is an SUV.
The best-selling SUVs in Europe in June 2022
As for electric cars, a similar situation is faced. In the month of June 215,000 electric vehicles were sold, 8% less than in the same period of time the previous year. This is the largest drop experienced since the month of April of the convulsive year 2020. Of said volume of registrations, electric cars represented 62% while the remaining 38% corresponded to plug-in hybrid cars.
The best-selling electric cars in Europe in June 2022
Video test of the Tesla Model Y, the best-selling electric car in Europe in June 2022
The The drop in demand for electric cars especially affected the Tesla, Volkswagen, Renault, Audi, Skoda and Ford brands. By contrast, BMW, Mercedes, Peugeot, KIA, FIAT and CUPRA have weathered the market decline as much as possible. If we leave aside the brands that only have 100% electric or plug-in hybrid models, Jeep has been the firm that registered the greatest increase in market share, going from 30% to 47% in June 2022. Behind them were Jaguar, Mitsubishi, Lexus and Citroen.
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JATO Dynamics