In 2023, the Tesla Model Y achieved the highest number of registrations in Europe, surpassing 250,000 units sold. This marks a significant milestone as it is the first time a non-European and electric model has topped the sales charts, as reported by Jato Dynamics.
The Tesla Model Y has emerged as the top-selling vehicle worldwide in 2023, spanning across more than 160 countries. This achievement solidifies Elon Musk's prediction from August 2022 that the Model Y would dominate as the best-selling new car globally in 2023. The Model Y outsold the long-standing Toyota Corolla by a slight margin, becoming the top-selling vehicle globally in the first and second quarters of 2023.
Felipe Munoz, global analyst at JATO Dynamics, stated: “The soaring popularity of the Model Y and price cuts across its range helped Tesla record its largest market share since arriving in Europe. Tesla has the right product in the right place at the right time.”
In addition to this, the Tesla Model Y also dominated the UK market as it was the top-selling electric vehicle (EV) in 2023 and also emerged as the best-selling car in the true fleet market.
Europe's Automotive Market
In 2023, the number of newly registered cars in Europe reached a total of 12,792,151, indicating a significant growth of 14% compared to the 11.25 million units registered in 2022.
Munoz also highlighted: “Europe’s automotive market appears to be normalising. Supply chain issues are now largely under control, and consumers have become accustomed to waiting longer to receive new vehicles. Despite this, it is unlikely we will see volumes surpass the 15 million units recorded in 2019. Purchasing a vehicle has become more expensive, and attitudes to ownership continue to change."
The surge in Europe's new car market in 2023 was primarily fueled by the increasing demand for electric vehicles (EVs), which captured 15.7% of the total market share with 2,011,209 units registered. This milestone represents a significant achievement for the EV category, nearly matching the 2,049,157 registrations of diesel cars.
Europe's best-selling new cars in 2023
The Tesla Model Y has been officially named as the top-selling car in Europe for the year 2023 based on statistics, marking the first time an electric vehicle has achieved this milestone. The ranking comprises a variety of electric and petrol-powered vehicles, showcasing the wide range of consumer choices in the European market.
Listed are the top 10 best-selling new cars in Europe for 2023.
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Volkswagen Group dominated the European market in 2023, increasing its market share to 25.8% from 24.7% in 2022. Audi, Skoda, Seat, and Cupra all experienced growth due to their strong electric vehicle offerings and appealing deals on older models like the Audi A4, A1, Q2, and the Seat Ibiza.
Skoda's Octavia and Kamiq, Audi's Q4, Seat's Ateca, and Cupra's Leon also showed impressive performance. Despite an overall increase in market share, registrations of the VW Golf only rose by 4%, while the T-Cross experienced a 5% decline.
Volkswagen Group's electric vehicles, the ID.4 and ID.3, ranked third and seventh respectively in the BEV rankings for 2023. However, they faced tough competition from rivals like the Tesla Model Y and the MG 4.
In contrast, Stellantis suffered the largest decrease in market share in Europe in 2023, falling to 16.6% - marking its second consecutive decline since its inception in 2021 with a market share of 20.3%.
