Sustained Growth in a Changing Market

In April 2024, the French automobile market showed signs of strong momentum, with a notable increase in vehicle registrations. The overall increase in registrations of private vehicles (PV) and utility vehicles (LCV) was +11.77%, a significant increase despite an adjustment for two additional working days, resulting in a stable growth of +0.36%. These figures show a gradual return to 2021 volumes, although 2019 pre-pandemic levels remain a target to achieve.

Top 10 automobile registrations in France (all engines)

1. Renault – 17.16% market share
   • Renault continues to dominate the French market with a wide range of vehicles, including several very popular electric models.
2. Peugeot – 13.63% market share
   • Peugeot maintains its strong position in the market with solid performance of its gasoline, hybrid, and electric models.
3. Dacia – 8.69% market share
   • Dacia, known for its affordable vehicles, remains a popular choice among budget-conscious consumers.
4. Toyota – 8.37% market share
   • Toyota benefits from strong demand for its hybrid vehicles, which are among the best-selling in their category.
5. Volkswagen – 6.97% market share
   • Volkswagen continues to play a key role in the European market with a diversified offering including innovative electric vehicles.
6. Citroën – 7.40% market share
   • Citroën stands out for its unique designs and comfortable technologies, maintaining a good market share.
7. Mercedes – 3.08% market share
   • Mercedes excels with its luxury models, including its high-performance electric and hybrid options.
8. BMW – 2.29% market share
   • BMW maintains its reputation with a range of performance and luxury vehicles, including growing electric models.
9. Opel – 2.38% market share
   • Opel, with a variety of practical and economical models, continues to attract a loyal customer base.
10. Audi – 2.29% market share
    • Audi remains an important player thanks to its technological innovations and advances in electric and hybrid vehicles.

The Growing Weight of Electric Vehicles

Within this changing landscape, 100% electric vehicles continue to stand out. In April 2024, their market share reached 17%, up 4 points compared to April 2023. This performance is all the more remarkable given that electric vehicles are now the third preferred engine in France, surpassing engines such as mild hybrids, diesels, and plug-in hybrids. This rise demonstrates a growing acceptance of sustainable mobility solutions among French consumers.

Top 10 registrations of 100% electric vehicles in France

1. Renault
   • Electric market share: First place
   • Renault remains the undisputed leader in the electric segment with models like the Zoe and the Megane E-Tech.
2. You’re here
   • Electric market share: Second place
   • Tesla continues to have a significant impact on the electric vehicle market with its extensive lineup and constant innovation.
3. Peugeot
   • Electric market share: Third place
   • Peugeot has strengthened its electric range with models like the e-208 and the e-2008, allowing it to position itself well.
4. Volkswagen
   • Electric market share: Fourth place
   • Volkswagen is making progress with its ID family, which is quickly gaining popularity in France.
5. Hyundai
   • Electric market share: Fifth place
   • Hyundai is known for its reliable and technologically advanced electric options, like the Kona Electric and Ioniq.
6. Kia
   • Electric market share: Sixth place
   • Kia offers a variety of attractive electric models, including the EV6 which receives praise for its style and performance.
7. BMW
   • Electric market share: Seventh place
   • BMW continues to push its iSeries models, strengthening its presence in the premium electric market.
8. Nissan
   • Electric market share: Eighth place
   • Nissan, with its pioneering Leaf and other electric models, maintains a solid market share.
9. Opel
   • Electric market share: Ninth place
   • Opel, thanks to models like the Corsa-e, maintains a stable presence in the electric segment.
10. Mercedes
    • Electric market share: Tenth place
    • Mercedes is making progress with its EQ models, targeting the high-end electric market.

Growth Factors for Electric

1. Institutional Support and Incentives: The French government continues to support the adoption of electric vehicles through various tax incentives and subsidies, thus facilitating the acquisition of these clean technologies by consumers.
2. Technological innovations: Constant improvements in terms of range and charging times also help to make these vehicles more attractive to the general public.
3. Ecological Awareness: Growing awareness of environmental issues is encouraging more and more consumers to opt for less polluting vehicles.

Tracking changes in ranking when switching to electric motorization

The move to the ranking of sales of 100% electric vehicles reveals a significant change in the dynamics of the French automobile market. While traditional brands like Renault and Peugeot maintain strong positions, electric specialists like Tesla are emerging as major leaders, disrupting established hierarchies. Here are the main tipping points:

1. Renault maintains its leading position, reflecting its well-established proactive electrification strategy in Europe.
2. You’re herewhich was not present in the top overall sales, catapults into second position for electrical sales, illustrating its strong impact and its specialization in this sector.
3. Volkswagen is moving up the electric rankings thanks to its massive investment in the ID range, which appears to be paying off in terms of electric market share.
4. Hyundai And Kiathanks to their rapid adoption of electric technologies, are climbing significantly in the rankings, surpassing many traditional European competitors.
5. BMW And Mercedesalthough present in the top 10 overall, see their relative position less dominant in the electric segment, indicating a more gradual transition towards electrification compared to some of their rivals.

Builders in Advance

• You’re hereas a manufacturer dedicated to electric vehicles, stands out for its innovative approach and its technological advance, which guarantee it a place of choice in the market.
• Renault continues to benefit from its initial lead in electrification, with continued investments and innovations strengthening its leadership position.
• VolkswagenHyundai, and Kia show that an aggressive electric product development strategy can quickly transform their brand image and market share.

Late builders

• Opel, NissanAnd Dacia appear to be performing less well in the electricity sector than in the general market, which could indicate a slower adaptation to new market demands or a less electrification-focused strategy.
• BMW And Mercedesdespite their reputation as premium brands, still need to step up their efforts to compete with Tesla and other brands that are rapidly rising in the electric sector.

Challenges and Perspectives

Despite robust growth, the electric vehicle market faces challenges, particularly in terms of charging infrastructure and high upfront costs. However, the continued focus on greener policies and innovative technologies portends even greater expansion of this segment.

Conclusion

With 17% market share in April 2024, electric vehicles are establishing themselves as an essential component of the French automobile industry. This ascending trend reflects not only a change in consumer preferences but also a strategic adaptation of the industry to contemporary ecological imperatives. The near future could therefore see this market share increase further, consolidating France’s position as a leader in the transition to sustainable mobility.

Data source: AAA DATA