Stellantis saw a significant year-on-year drop in volumes in September, down 25%, contributing to a 3% decline in overall European new car registrations, according to analyst JATO Dynamics.
Despite this, Volkswagen Group and Tesla drove growth in the battery electric vehicle (BEV) segment.
Demand for BEVs rebounded across Europe, with 212,197 new BEVs registered last month, marking a 14% increase compared to September 2023.
However, year-to-date BEV registrations remained down by 3%, with 1.43 million units registered in 2024 so far.
Felipe Munoz, global analyst at JATO Dynamics, noted that while the recent surge in BEV registrations is encouraging, uncertainty persists, commenting: “It’s hard to say for certain whether BEVs will continue along this positive trajectory, but the monthly increase in registrations is welcome news – especially considering that consumers still have reservations about the adoption of electric cars.”
Stellantis’ weak performance contributed to the broader market downturn, with the company’s registrations plummeting by 25%, especially in Italy and France, where declines reached 34% and 17%, respectively. Fiat, Citroen, and Opel/Vauxhall saw some of the steepest drops.
As part of a drive to streamline operations and ensure profitability Stellantis last week announced it will review its portfolio of 14 car brands to determine which have the strongest future.
Chief executive Carlos Tavares revealed the plan to scrutinise the brands within the next two or three years while at the Paris Motor Show.
The review announcement comes as Stellantis, the fourth largest vehicle manufacturer in the world, reported a 10% drop in global shipments for the third quarter of 2023, with the company delivering 1.14 million vehicles in that period – 279,000 fewer than the same time last year. Some brands like Alfa Romeo, DS and Lancia, have struggled in recent years.
Volkswagen Group and Tesla meanwhile led the BEV charge in September, with both increasing their market share significantly – 22.8% and 20.9% respectively.
Despite a 1% dip in Tesla Model Y registrations, it remained the best-selling vehicle, with Tesla’s overall registrations increasing by 31%, largely thanks to the updated Model 3.
Other notable players in the BEV segment included the Volkswagen ID.7, Citroen e-C3, and Volvo EX30. Skoda emerged as a standout for Volkswagen Group, helping drive a 2% increase in its overall volumes.
Skoda was also Europe’s third best-selling brand in September. Other strong performers were Toyota, BMW Group, and Geely Group.
In terms of overall top-selling vehicles, the Tesla Model Y, Renault Clio, and Dacia Sandero led the rankings, followed closely by the Volkswagen Tiguan and Toyota C-HR.
