Tesla's Market Share in the UK - Facts, Sales, Growth in 2024

REPORT HIGHLIGHTS:

In February 2023, plugin electric vehicles had a 22.9% share in the UK auto market, down from 25.6% in February 2022.
The UK’s overall auto volume in February 2023 was 74,441 units, marking a 26% year-over-year growth.
Chinese manufacturers have captured 8.2% of the European electric car market in 2023, selling 86,000 BEVs.
Tesla Model Y was the best-selling vehicle overall in the UK in March 2023, with 8,123 units sold.
More than 215,000 new plug-in cars were registered in the UK so far in 2023, representing over one-fifth of the market.
Battery Electric Vehicles (BEVs) gained about 20% year-over-year, with 12,310 BEV units sold in February 2023.
Inflation rates in the UK have surged to above 10%.

UK Auto Market Evolution

In February 2023, the market share of plugin electric vehicles in the UK stood at 22.9%.
This marks a decrease from February 2022, when plugin electric vehicles had a 25.6% share of the auto market.
The overall auto volume in February 2023 was 74,441 units.
Year-over-year, this represents a growth of 26% in overall auto volume.
However, this is still below the seasonal norm of approximately 81,000 units, which was typical before the year 2020.

China’s influence in the European electric car market has significantly increased, with its market share more than doubling in less than two years.
The UK stands as the premier market for Chinese electric car brands in Europe, contributing to nearly one-third of their total European sales in 2023.
Approximately 5% of all new cars sold in the UK from January to July 2023 were manufactured by Chinese brands.
Chinese automakers nearly matched their entire 2022 electric car sales in Europe within the first seven months of 2023.
Chinese cars have expanded their footprint in the overall European auto market, growing from a 0.1% share in 2019 to 2.8% in the first seven months of 2023.
In terms of battery-electric vehicles (BEVs), the market share escalated from 0.5% in 2019 to 3.9% in 2021.
So far in 2023, Chinese manufacturers have captured 8.2% of the European electric car market, selling 86,000 BEVs.
The MG4 EV ranks as the second most popular electric car in the UK for the period covering January to July 2023, trailing only behind Tesla’s Model Y SUV.

Tesla set a new record for Model Y deliveries in the UK last month, contributing to an all-time high in the country’s electric vehicle market share.
Orders for the Tesla Model Y opened late in 2021 in the UK, and deliveries started in February 2022.
By March, the Tesla Model Y had already claimed the title of the best-selling electric vehicle in the UK.
Leading the surge in electric vehicle sales, the Model Y has been a key driver in the 18% year-over-year increase in battery-electric vehicle sales.
In March, the Tesla Model Y was not just the best-selling electric vehicle but also the best-selling vehicle overall in the UK, with 8,123 units sold.
When it comes to the best-selling vehicles in the UK for the year 2023 so far, the Tesla Model Y ranks fourth with 5,888 units sold.
The top ten list of best-selling vehicles in the UK in March also includes popular models like the Nissan Juke, Nissan Qashqai, and Kia Sportage, among others.
For the year 2023 to date, other leading vehicles include the Nissan Qashqai, Nissan Juke, and Vauxhall Corsa.
As of the latest data, battery-electric vehicles now make up an 18% share of the overall auto market in the UK.

UK car registrations rose by nearly 26% in June 2023, totaling 177,266.
Total new registrations reached 949,720 in the first half of 2023.
This marks an 18% increase year-over-year.
The plug-in segment had its best June ever.
SMMT reported 44,470 new plug-in cars were registered last month.
This is a 46% increase from the previous year.
Plug-ins made up 25.1% of total car sales.
Last year, this share was 21.6%.
All-electric and plug-in hybrid sales both saw significant growth compared to 2022.
More than 215,000 new plug-in cars were registered so far this year.
This is a 29% increase from last year.
Plug-ins now account for over one-fifth of the market.
Tesla Model Y was the best-selling model in June 2023 with over 5,500 units sold.

In February 2023, full battery electric vehicles (BEVs) accounted for 16.5% of the UK’s auto market.
Plugin hybrids (PHEVs) made up a smaller share, coming in at 6.3% in the same month.
Comparatively, in February 2022, BEVs had a larger share at 17.7%.
PHEVs also had a higher market share a year ago, standing at 7.9% in February 2022.

Year-over-year, petrol-powertrain volumes increased from 23,952 units to 32,331 units.

The volume of Battery Electric Vehicles (BEVs) gained roughly 20% year-over-year.
In February 2023, a total of 12,310 BEV units were sold.
Tesla Model Y was the best selling full electric vehicle for the month, with 1,482 units sold.
The Tesla Model Y alone accounted for 12% of the BEV market in February 2023.
Two-thirds of Tesla’s total BEV market share came from Tesla Model Y sales.

Volkswagen climbed in brand rankings, moving from 4th place to 2nd.
Audi also saw a rise, ascending from 7th to 4th position.
Polestar made significant strides, jumping from 9th to 6th place.
Renault made an impressive leap from 17th to 7th in the rankings.
Conversely, MG fell from 3rd to 5th place.
Mercedes also saw a decline, dropping from 5th to 10th.
Hyundai experienced a slide as well, falling from 8th to 11th place.
Since the summer of 2022, Polestar has steadily climbed in the rankings.
Renault Nissan made a significant leap, climbing from 8th to 4th place in the manufacturing group rankings over the three months leading up to November.
Stellantis, on the other hand, experienced a decline, falling from 5th to 8th place in the same period.

The overall auto market experienced a year-over-year growth of 26%, primarily attributed to easing supply chain shortages.