The recent dispute between Russia and Ukraine has become a continuous variable this year, with some short-term shocks and changes in the macro, and in the long run, energy policy and supply chain management will become a continuous topic.
Sales of new energy vehicles in European countries remained stable in February, and from the gradient point of view, Germany maintained sales of nearly 50,000 units and remained in the first echelon; the second and third were France and the United Kingdom, and Sweden was also more than 10,000 units. In the short term, it is difficult for new energy vehicle sales in other European countries to change – it is expected that the growth rate of new energy vehicles in Europe will gradually slow down under the condition of high penetration rate in 2022.
Figure 1. New energy vehicle sales in Europe in February
Part 1 Macro movements
I put all the sales of new energy vehicles in 2021 together with the volume in 2022, and the good news is that most countries have a year-on-year data that is OK; but it can also be seen that there is a clear platform effect here - it is difficult for the countries we track to rise on the basis of the previous Q4.
Figure 2. Sales trends of new energy vehicles in European countries from 2021 to 2022
If you pull out the data of the past four months, you can see that compared with the amount of November-December last year and January-February, the decline is still relatively obvious. The macro environment that auto companies need to deal with is more complex, and the supply chain disruption is not only a chip supply problem (the chip problem will continue in 2022), but also other disruptive factors.
Figure 3. The difference between the last two months of 2021 and the first two months of 2022
Europe's pure electric and plug-in hybrids are still in a relatively balanced state, except for Norway, most countries, are in a state of equal proportion, Germany and France are pure electric slightly more. With the battery price in the world there is a certain increase, plug-in hybrid will still exist for a long time.
Figure 4. Comparison of sales of pure electric and plug-in hybrids in European countries in February
Part 2 Sales of specific models
In February, some European countries – Norway, Sweden, the Netherlands, Italy, Spain, Switzerland and Denmark – ranked first and third among all-electric models, with Hyundai ranking second.
Table 1. Ranking of electric models (limited to countries with detailed data available)
In fact, the largest sales in these countries are only NIRO's 711 units, a large number of Tesla cars are waiting for delivery in the sea, and the February data is still in a relatively early stage.
Figure 5. Ranking of models with large market share
In the lower-volume market, we see some familiar names, such as Model Y, Model 3 and Ioniq 5 models.
Figure 6. Market rankings for lower volumes
Summary: Tracking the European new energy vehicle market, although the number is constantly improving, more than 45% are plug-in models; pure electric models are still relatively scattered overall, belonging to the small market gradually and slowly changing. After writing for so long, there seems to be no particularly many highlights to share with everyone. However, the US new energy vehicle market in 2022 has changed more, and when this data is completely out, we will compare it.