Counterpoint: EU EV market grew by 16% in Q2 2022 led by Mercedes

14 October 2022, 03:15:50

Europe's passenger EV sales increased by 16% YoY in Q2 2022, according to the latest research from Counterpoint's Global Passenger Electric Vehicle Model Sales Tracker. Battery electric vehicles (BEVs) accounted for 55% of total EV sales during the quarter. Germany, with a 28% share, remained the European EV market leader, followed by France with 16%, and the UK with 14%. Among other European nations, Spain and the Netherlands were the fastest-growing EV markets, nearly doubling their sales on a YoY basis. However, Norway had the highest EV sales penetration (85%) among European countries and also globally.

The top five brands accounted for only 36% of the total EV sales across Europe in Q2 2022. Europe is one of the most competitive EV markets where OEMs must fight hard for relatively small market shares. This ensures that most OEMs have similar market shares with a difference of only a few points.

Leading the pack, Mercedes-Benz accounted for around 9.2% of the total EV sales across Europe during the quarter. Last year, the company announced it would stop the development of internal combustion engines and strengthen its focus on electrification instead. Although the company had the highest number of EV sales across Europe, BEV sales accounted for only 28% of its total EV sales. The company's present portfolio is strong. Its plug-in hybrid electric vehicle (PHEV) models include the GLC-Class, GLE-Class and C-Class, while its top-selling BEV models are the EQA, EQB, and EQE.

BMW, an early adopter of electrification, was the second-best selling EV brand in Europe in Q2 2022. BMW had a 9.1% share of the EV market in Europe during the period. The PHEV segment accounted for 71% of the company’s total EV sales. The BMW X series and the BMW 3 series cars dominated the PHEV segment, while the company’s i-Series models, namely the iX, i4 and i3, were the flagbearers of its BEV segment.

Among European OEMs, Volkswagen was hurt the most from the Russia-Ukraine war. Supply chain disruptions and component shortages reduced the company’s sales by 44% YoY during Q2 2022. Volkswagen, one of the largest auto OEMs, was able to secure just 6.2% of Europe EV sales during the quarter. The company is betting on its ID series cars to dominate the EV market. Presently, 64% of EVs sold by Volkswagen are from the ID series alone.

Among other brands, Tesla's performance fell short of expectations even though its Berlin Gigafactory started production in March 2022. Tesla sales in Europe fell 51% YoY during Q2 2022 mainly due to production halts at its China operations in April and May, stemming from supply issues and restrictions related to the pandemic. A major proportion of Tesla cars sold in Europe is imported from China.Source

News related to Mercedes, BMW, Volkswagen or Tesla

At the beginning of the year, the BMW Group is once again updating the software in its vehicles with BMW iDrive Operating System 7 and 8. At present, a about 4.7 million BMW vehicles are upgradeable thanks to their hardware and BMW iDrive Operating System. Since 2019, BMW has been offering free remote software upgrades several times a year for infotainment, driving, driver assistance, comfort and safety. A recent...

23 January 2023

Under an expanded Joint Development Agreement, BMW Group and Solid Power have added a research and development license as a basis for their common next steps. This license enables BMW to establish an ASSB prototype line in its CMCC (Cell Manufacturing Competence Center) in Parsdorf near Munich. The broadened relationship provides significant benefits to both companies, including conducting complementary cell...

23 January 2023

The Global Battery Alliance (GBA), the world's largest multi-stakeholder organization to establish a sustainable battery value chain by 2030, today launched the proof of concept for its Battery Passport at the World Economic Forum’s Annual Meeting in Davos. The Battery Passport is key to facilitating the rapid scaling of sustainable, circular, and responsible battery value chains to meet the targets of the Paris...

18 January 2023

Volkswagen Group has made significant progress in its electric transformation in 2022. Despite supply constraints and temporary production stops, 572,100 all-electric vehicles were handed over to customers around the globe. Compared to 2021, this is a substantial increase of 26%. The BEV share of total deliveries thus reached 6.9%, up from 5.1% a year earlier. The Volkswagen Group remains the BEV market leader in...

12 January 2023

According to Digitimes Research reported by Digitimes Asia, the global sales of electric vehicles have reached 9.78 million units in 2022. The projected growth for this year is 49% to 14 million units sold globally. Of those, 9 million are expected to be sold in China only. Even now, China's share of the global EV sales is higher than 60%. For comparison, Europe sales account for 24% of the total sales, and USA...

11 January 2023

South Korean news outlet The Elec reports that Samsung SDI readies to build a third factory in Hungary that will produce batteries for the EV models of BMW. It is expected that the third plant will be near the other two already existing - near Goed. The Elec reports that the land on which the site will be built has already been purchased and that Samsung SDI is most likely to start construction in the first half of...

11 January 2023

The world's most valuable luxury automotive brand finished 2022 with a strong final quarter, delivering 540,800 Mercedes-Benz Passenger Cars (+17%) to customers and achieving a rise in Top-End and Battery Electric Vehicle (BEV) sales. The October to December period marked the best quarter in 2022 for Top-End vehicles with sales up 14% thanks to robust demand in most regions, despite ongoing COVID meaures...

10 January 2023

In his remarks during the Mercedes-Benz tech talks at CES 2023, Chief Technology Officer Markus Schäfer revealed plans for a Mercedes-Benz branded high-power charging network starting this year in North America. Rollout in Europe, China and other main markets will follow. The North American network is scheduled for completion by 2027, by which time a total of more than 400 hubs with more than 2,500 high-power...

6 January 2023

The latest Coutnerpoint research of the EV market noted down that Tesla is clearly leading the US EV market, and ts Q3 2022 "eclipsed the next 15 brands combined." The overall US EV sales grew by almost 52% YoY during Q3 2022 despite macroeconomic headwinds. BEV sales grew by more than 78% YoY during Q3 and constituted over 80% of the total US EV sales. Tesla sales in the US grew by more than 56% YoY during the...

5 January 2023

BMW has reported its NA Q4 2022 and full-year 2022 US results. We're focusing on the EV sales only, hence, we will mention only those here. In March 2022, the fully electric BMW iX Sports Activity Vehicle and BMW i4 Gran Coupe began arriving at U.S. dealerships. In the nine months that followed, sales of the all-new electric vehicles increased steadily as inventory levels improved. A third fully electric model, the...

5 January 2023

BMW Group is sharing its vision of the future digital experience, both inside and outside the vehicle, at CES 2023 in Las Vegas. BMW i Vision Dee is a futuristic mid-size sedan with a new and pared-down design language. The name “Dee” stands for Digital Emotional Experience – and that is precisely its aim: to create an even stronger bond between people and their cars going forward. Future digital functions will go...

5 January 2023

Volkswagen ID.7 makes its first appearance at CES 2023 in camouflaged clad. This is the brand's first fully electric sedan based on the modular electric drive matrix (MEB). The camouflage is "smart" and uses unique technology and multi-layered paintwork to create light effects on parts of the vehicle. 40 layers of paint have been applied, of which some are conductive while others have insulating properties. A total...

4 January 2023

Tesla has announced its fourth-quarter results for 2022. In this period, the company has produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew by 40% YoY to 1.31 million while production grew by 47% YoY to 1.37 million. Tesla continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of...

3 January 2023

In a short press release announcement, Tesla revealed it will host its 2023 Investor Day on March 1. The event will be live-streamed from the brand's Gigafactory Texas, with the option for some of its institutional and retail investors to attend in person (details to follow). The investors will be able to see Tesla's most advanced production line as well as discuss long-term expansion plans, the generation 3...

3 January 2023