Portugal Has 28% Plugin Vehicle Share — Market Share Report

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Tesla #1 and #2 Lead in PHEV-Heavy Market

After previously checking out Spainwe flip west, to its Iberian neighbor, Portugal, for a brand new EV gross sales report. As a Southern European market with low buy energy, one would suppose that this may be one other market lingering behind the peloton, struggling to achieve double digits.

Properly, suppose once more, as that is the main EV market in Southern Europe, market share sensible, with plugins representing 28% of all passenger automobiles in 2024!

Placing that into context, that worth is increased than Austria (23%), the UK (24%), and even France (26%)! (I’m not mentioning Germany, as a result of as a result of present end-of-subsidies gross sales bluesthe EV market share there’s now at 18%….)

So, what’s the secret for this success? I consider there are three important causes, all linked to one another: Beneficiant company-car advantages, specifically VAT deductability, to BEV and PHEV fashions; the significance of the corporate automobile market within the total passenger automobile market; and the native automotive tradition, which regards automobiles as a vogue assertion and EVs being thought to be the subsequent large factor.

There are different fiscal incentives (annual highway tax reductions, free parking, and so forth.), however the ones talked about above are those that transfer the needle and really form the plugin market.

In comparison with Spain, whose plugin automobile (PEV) market is presently at round 11% share of the general market, and particularly in comparison with Italy, which continues to be lingering at round 6% share(!), Portugal is certainly one step forward. Though, trying nearer on the numbers, there’s a extra nuanced image….

As a result of these firm automobile incentives additionally being accessible to plugin hybrids, trying nearer on the numbers, we realise that rather less than half of the plugin market is within the palms of PHEVs, whereas Tesla owns greater than 25% of the BEV market, which isn’t a constructive signal of a wholesome market.

Nonetheless, it could possibly be worse. Let’s take a look at the efficiency by powertrain, and with the backdrop of the general market rising 9% YoY in 2024, to 96,223 models. Plugless hybrids are booming, presently representing 16% of the general market. BEVs grew 12% YoY this 12 months, to 16% share as effectively. PHEVs surged 23% in the identical interval, to 12% share, having reached its third finest outcome ever in Could with 2,601 registrations, simply 122 models under the file of November 2023 (2,723 models). One can say that the market’s electrification course of is constant at a gentle tempo, reaching 29% PEV share in Could and 28% in 2024 thus far. And if we embrace plugless hybrids, this market reached 44% share of electrification.

Could noticed a small peak from PHEVs, which reached 13% that month, pulling their YTD share to 12%. By 2035, count on this market to be principally electrified, with the query being if they are going to be capable of make the total transition simply utilizing BEVs or if some share of PHEVs can be wanted to be added to the combination to be able to attain the EU’s ban on ICEVs.

Taking a look at the perfect promoting fashions, the state of affairs is that Tesla is on the high, adopted by a sea of plugin hybrids and some compact BEVs.

As such, the Tesla Mannequin 3 is within the lead in each the Could and YTD rankings, nearly tripling the gross sales of the Tesla Mannequin Y, with this being one of many attention-grabbing quirks of the Portuguese market — because it is among the solely markets in Western Europe much less affected by the SUV craze. Add that to the truth that the Mannequin 3 not too long ago had a refresh and you’ve got the recipe for the Mannequin 3 beating the Mannequin Y. The truth is, the sedan reached the #1 place within the total rating for simply the second time ever, after its first triumph in November 2023.

The 704 deliveries of the Mannequin 3 represented a 96% improve YoY, whereas alternatively, the Mannequin Y (200 models in Could), sank an astonishing 56%(!) in the identical interval.

Exterior of TeslaWorldthe silver medal in Could went to the Volvo EX30, with 245 registrations, as soon as once more confirming its recognition in Europe. The final place on the rostrum went to a stunning Audi A3 PHEV, which delivered a file 227 models!

That is one other quirk of this market, and others prefer it, as a result of it’s not a market with massive volumes — like say, Spain — and it additionally sits on the periphery of mainland Europe. Portugal, together with different markets like Eire and Iceland, suffers from common models hungerwhich suggests, as a substitute of a gentle movement of deliveries, in relation to some fashions and types, deliveries are made in batches. So, throughout a number of months, a given mannequin will get symbolic registrations, say single digits or low double digits, after which a boatload of models land in dealerships, taking pictures the mannequin to the highest of the tables in a given month whereas really satisfying demand that had been on maintain for a number of months.

The Audi A3 PHEV is simply essentially the most excessive instance, as there are extra instances in Could’s rating of the identical logic: The #19 Kia Sportage PHEV and #20 Toyota RAV4 PHEV broke their private data in Could, with 82 and 81 registrations respectively, after somewhat discreet careers this 12 months. The Audi This autumn e-tron, #15 with 88 deliveries, had its finest lead to a 12 months. (This mannequin’s deliveries most likely got here in the identical batch because the Audi A3 PHEV.)

Different fashions shining in Could had been the Volvos S/V & XC60 PHEV midsizers, with each the SUV (136 registrations) and the sedan/wagon (176 registrations) scoring file outcomes, one thing that may solely be defined by the EX30’s present success (a excessive tide lifts all boats and all that) as these fashions have already got six to seven years on their backs.

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The BMW iX1 continues to develop its deliveries, having reached a file 94 models in Could, thus confirming the crossover’s recognition, whereas Peugeot lastly received time to allocate respectable volumes of the brand new e-208 EV and e-2008 EV to Portugal, permitting each fashions to achieve new 12 months finest scores, 104 models and 117 models, respectively.

A well-liked mannequin in Portugal, the Mercedes CLA250e PHEV scored a file 93 registrations in Could, serving to the German make to put 4 fashions on the highest 20 and permitting it to be essentially the most represented model on the desk.

Talking of Mercedes, the three-pointed-star’s fashions are fairly in style in Portugal, and the aforementioned efficiency wasn’t a one-time factor however an everyday function. The German make has much more representatives within the YTD high 20 — the entry A-class in third, E-Collection in seventh, GLC in eighth, C-Class in twelfth, and EQA compact mannequin in thirteenth.

Exterior the highest 20, and nonetheless on Mercedes, the EQB had 59 registrations, its finest lead to nearly two years, whereas a point out additionally goes out to the nice results of the VW ID.3 (50 models), its finest outcome since final August. And right here’s one other peculiarity of the Portuguese market: In Could, the perfect promoting BYD mannequin was the Seal(!), with 57 registrations, with the nice trying sedan cementing its place because the model’s finest vendor right here — not solely in Could, but additionally YTD, with 271 registrations.

Curiously, it seems to be like even BYD was caught off guard with this one. Having not too long ago visited a BYD dealership in Portugal, all accessible fashions (the Dolphin, Atto 3, Tang, Han…) had been accessible for quick supply aside from the Seal, which had a ready listing….

The rationale for that is possible the addition of beneficiant firm automobile subsidies in addition to the recognition of sedans (and station wagons) in Portugal.

Wanting on the YTD knowledgewithin the gentle of the current developments concerning tariffs, the present advance of the Tesla Mannequin 3 ought to be sufficient to maintain it within the lead, however the second place could possibly be up for grabs if the Tesla Mannequin Y continues on its downwards spiral. The principle candidate to exchange the US crossover is the third positioned Mercedes A-Class, because the #4 Volvo EX30 ought to see its supply surge drop within the second half of the 12 months.

The one different high 20 mannequin to be affected by the brand new Chinese language tariffs is the #8 MG4, which ought to drop a number of positions by the top of the 12 months.

One other spotlight within the rating is the sixth place of the Peugeot 308, with the compact hatchback being the perfect promoting Stellantis mannequin, forward of the stunning #11 Citroen e-Berlingo van-with-windows MPV.

Yet another shock look within the high 20 is the Skoda Octavia PHEV, in #18, with the Czech mannequin securing an sudden presence among the many finest sellers.

Wanting on the model ratingMercedes advantages from the recognition of its lineup, even beating Tesla (15.8% vs. 15.6%). The German make can also be comfortably forward of its arch rival, BMW, which is third with 11.7% share. That is a kind of markets the place the funding that Mercedes made in its plugin hybrid fashions (larger batteries, CCS availability…) is paying off, permitting it to distance itself from its German rivals.

In 4th we have now Volvo, with 8.3% share, with a lot of it primarily based on the EX30’s gross sales. Peugeot is in fifth, with 6.4% share, with the French model comfortably forward of #6 Audi (4.7%), but additionally distant from #4 Volvo.

Arranging issues by OEMwe have now a detailed race for #1, with Mercedes Group (15.8%), Tesla (15.6%). and Stellantis (15%) competing for the highest spot, however with #4 Volkswagen Group (12.5%) and #5 BMW Group (12.2%) not that far behind. That is most likely one of many extra open races for gold within the OEM class anyplace on this planet.

With Tesla most likely affected by smaller volumes coming from the Mannequin 3, Mercedes Group appears the favourite at this second, however with Stellantis most likely benefitting from elevated volumes coming from its new, lower-cost fashions (Citroen e-C3, Citroen e-C3 Aircross, Opel Frontera, Fiat Grande Panda…), we may see it surpass the German OEM by the top of the 12 months. We will see.

Lastly, Geely–Volvo is sixth, with 9% share, and with the Chinese language conglomerate possible affected by the brand new tariffs (the Volvo EX30, Polestar 2, and Good #x’s are all made in China), not solely will these developments forestall it from making an attempt to achieve a high 5 spot, however they should watch their again and regulate the competitors.