Tesla Model Y was the best-selling and most-produced BEV in Europe in 2024
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Tesla Model Y was the best-selling and most-produced BEV in Europe in 2024
- In a European market (30 countries = EU + United Kingdom + Switzerland + Norway) of nearly 2 million BEVs in 2024 (down 2.1% compared to 2023), representing a market share of 16%, the production volume of BEVs in the same perimeter reached 1.85 million units, slightly down compared to 2023.
- The best-selling BEV model in Europe in 2024 and the most produced (in Germany) remains by far the Tesla Model Y (207,629 units), which is well ahead of the Tesla Model 3 (111,596 units) and the Skoda Enyaq (78,691 units). Tesla had not yet experienced the sharp drop in sales in Europe observed from January 2025.
- In fourth place, we see the presence of a brand new model, the Volvo EX30, a battery electric B-segment SUV produced in China (like the Tesla Model 3) which should however be relocated in Europe as early as 2025, due to its high sales volume (77,053 units) despite the European tariffs that currently apply to battery electric cars produced in China. We also wonder why Tesla does not consider producing its Model 3 in Europe for the European market, to avoid these tariffs.
- The Volkswagen Group's best selling BEVs, Audi Q4, VW ID4 and VW ID3, did no better than take 5th, 6th and 7th in the ranking, with 68,968, 60,881 and 54,261 sales respectively.
- The MG 4 is in 8th rank, down sharply from 2023 (51,301 sales) due to the European tariffs on battery electric cars made in China. MG (a subsidiary of SAIC) has not yet decided to produce its cars in Europe. The 9th and 10th places are occupied by the premium compact SUVs BMW iX1 (45,811 sales) and Mercedes EQA (42,864 sales). There are no Renault and Nissan models in the Top 15, but Peugeot places one model, the e-208, in 13th place (38,136 sales).
Europe imported 205,000 vehicles from the USA in 2024
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Europe imported 205,000 vehicles from the USA in 2024
Lucid announces 58% sales Increase in Q1 2025
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Lucid announces 58% sales Increase in Q1 2025
- After Fisker 's bankruptcy last year, we may think that its competitor Lucid, which had been experiencing significant financial difficulties for several years, could suffer the same fate. In 2024, Lucid recorded losses of approximately $2.7 billion. However, the company ended this period with cash of $5.16 billion, thanks in part to support from Saudi Arabia's Public Investment Fund.
- For the full year 2024, Lucid produced 9,029 vehicles at its U.S. plant in Casa Grande, Arizona, meeting its targets. The carmaker delivered 10,241 vehicles, a 71% increase compared to 2023.
- By 2025, Lucid plans to double its production to 20,000 vehicles, with the launch of its Gravity SUV to strengthen its range and market position. This new model will go on sale starting in April 2025.
- The first quarter 2025 results show a 28% increase in production (2,212 units produced), not including the additional 600 vehicle kits in transit for final assembly in Saudi Arabia.
- Lucid delivered 3,109 vehicles in the first quarter of 2025, a 58% increase from the first quarter of 2024, while the Gravity has yet to go on sale. At this rate, the Air sedan could find 12,000 customers by the end of December 2025, but the Gravity is expected to take a number of customers.
- By 2025, the company expects sales of the Air sedan to reach 50% and sales of the Gravity SUV to reach 50%.
Mercedes may produce one more model at its US plant
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Mercedes may produce one more model at its US plant
- Following the announcement of future 25% tariff (in addition to existing tariffs) on car imports from Europe, the Mercedes Group announced that it is considering producing an additional model at its US plant in Tuscaloosa, Alabama. Currently, this plant produces the Mercedes GLE (171,333 units in 2024), GLS (46,558 units), EQE (37,974 units), and EQS (24,539 units) large SUVs for the world, as well as the Sprinter lighht truck (55,111 units) for the US market only. In total, the Tuscaloosa plant produced 335,515 vehicles in 2024, with a production capacity set at 350,000 units per year.
- On the other hand, Mercedes imported 201,194 vehicles from Europe in 2024, with the highest sales volumes recorded by the Mercedes GLC (64,163 units), C-Class (35,590 units), GLA (19,079 units) and E-Class (17,638 units).
- We may be tempted to think that one of these four models could be produced in the Tuscaloosa plant for the American market, but in any case it would be necessary to increase the plant's production capacity, to 400,000 vehicles per year for example.
- The most logical solution for Mercedes would be to add the Mercedes GLC SUV (D-segment) to the assembly lines of the Tuscaloosa plant, as it is the brand's most imported model from Europe, slightly more profitable than the smaller GLA SUV (C-segment). And this model would fit well into the plant's overall production of 400,000 units per year.
- But the carmaker could ultimately choose a sedan, either the C-Class (D segment) already produced in Tuscaloosa between 2014 and 2020, or the E-Class (E segment) with a higher margin but half as popular on the US market as the C-Class.
Volvo considering more production in the United States
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Volvo considering more production in the United States
- Following the announcement of future 25% tariff (in addition to the existing tariffs) on car imports from Europe, the carmaker Volvo (a subsidiary of the Geely group) has announced that it is considering increasing production at its American plant in Ridgeville , South Carolina. Currently, this plant produces the S60 sedans (D-segment) as well as the EX90 SUVs (E-segment) and Polestar 3 (D segment), but in quantities too small to make the fully use the current capacities.
- In 2024, this plant produced 7,494 S60 sedans, 8,590 electric EX90 SUVs and 3,911 electric Polestar 3s, for a total of 19,995 vehicles, while the site's capacity was set by the carmaker at 150,000 vehicles per year. There is therefore plenty of room to produce one or more new models, as this plant is significantly oversized compared to demand, particularly due to the low demand for high-priced electric vehicles.
- On the other hand, Volvo imported 109,752 vehicles from Europe in 2024 out of the 125,243 sold in the USA, of which the largest sales volumes were recorded by the Volvo XC90 SUVs (39,492 units), Volvo XC60 (38,892 units) and Volvo XC40 (26,557 units).
- We may be tempted to think that these three highly demanded models could be produced in the Ridgeville plant for the American market, in addition to the existing models (S60, EX90, Polestar 3) and without increasing the plant's production capacity, since these three models together represent between 100,000 and 110,000 units per year, to which must be added between 20,000 and 40,000 units per year of the S60, EX90 and Polestar 3, or between 120,000 and 150,000 units per year in total.