Plugin sales surged in December, reaching a new record of 54,413 units, primarily driven by BEVs. December saw an amazing 50% year-over-year increase in BEV sales, totaling a record 37,355 units. PHEVs also contributed to the growth with a 17% year-over-year increase (17,056 registrations). BEVs now hold a 69% share among plugin vehicles, indicating a growing trend favoring BEVs. In terms of the entire year, pure electrics ended with a 65% share, a 3% increase over the 62% share in 2022. With the arrival of new small, affordable BEVs in 2024, this trend is expected to continue, potentially resulting in BEVs claiming over 70% of all plugin sales by the end of 2024.
In positive news, December marked a 30% plugin share (21% for BEVs alone), while 2023 closed with a 26% share (17% for BEVs), indicating a 4 percentage point improvement over the 22% plugin share (13% BEV) of 2022. Furthermore, the 4 percentage point year-over-year increase from 2022 over the 2021 result of 18% (10% BEV) suggests a considerable growth rate. This growth trajectory could potentially threaten the 2035 ICE ban. Expect the French market in 2024 to grow much faster, possibly to the tune of 2020 or 2021, when it experienced significant jumps in plugin vehicle sales.
The growth in 2024 will depend on several factors, including the speed at which local OEMs introduce forthcoming affordable EVs such as the Citroen e-C3 EV and the Renault 5. It will also rely on the continuation of policies such as the regular EV incentive and the new electric leasing scheme. Strong policies will likely spur significant growth in EV adoption.
A notable shift in the market is the rise of plug-less hybrids (HEVs), which grew from 22% to 24% market share in 2023. Overall, 2023 ended with 50% of all auto sales originating from electrified models, up from 44% in 2022. Meanwhile, diesel-powered vehicles now account for only 10% of total sales, indicating a decline in preference.
December’s best sellers saw a rush of China-made EVs, as the Tesla Model 3 emerged as the top seller with 4,790 registrations, followed by the MG4 from China with a record 4,138 registrations. However, the China-made Dacia Spring fell to 4th place with a relatively underwhelming performance of 2,810 registrations. The Tesla Model Y stood in 2nd among plugins, with 4,618 registrations. The BMW Group also delivered record performances with four models, marking a positive end to 2023.
The 2023 ranking crowned the Tesla Model Y as the best selling EV in France, and the crossover ended the year at #8 in the overall ranking. Looking ahead to 2024, the Tesla Model Y is a strong contender for the title, as the China-made Tesla Model 3 is expected to lose access to subsidies, likely resulting in lower sales. The runner-up Dacia Spring is set for major changes in production, and the Peugeot e-208, which ranked 5th in 2023, may not pose a strong challenge due to the arrival of newer, more affordable models.
