The automotive market is constantly changing, the newest types of powertrain are attracting new players into the market. The lack of models with those new powertrains generates big opportunities for new manufacturers. Even starting with a single model, it has been possible to gain relevant market shares in a relatively short space of time. There are still segments left with great potential for new brands.
In the past two years, the shares of alternative drives have increased from 8% to 36% in the biggest EU16 markets.Even so, you cannot introduce electric powertrains into existing models as easily as introducing a different size of Petrol or Diesel engine. In total, there are only 15 vehicle models available with a Petrol, Diesel and electric motor. If you are in addition looking for a model with a hybrid variant among those 15 models, there are only three models left (VW Golf, Volvo XC40 and Hyundai Kona). This opens up the market for new models and new brands, because if a customer wants to change to a new type of drive, the model they have driven so far is not even available with this new powertrain.
If you compare the brand ranking of the top 16 EU markets, the classification is completely different for each type of fuel. While the rankings for Petrol and Diesel are largely similar, new brands such as Tesla, Polestar, Cupra or Lynk & Co. have moved into second place under the EVs ranking and have a total market share of 1,3%, higher than Land Rover, Mitsubishi, or Porsche. Polestar (19th place in EVs), Cupra (12th place in PHEVs) or Lynk & Co (9th place in Hybrids) get more attention. Smaller brands, which were previously more exotic, have grown out of their niche with these new fuel types. First and foremost, would be Honda in fourth place for the Hybrids, Jeep at tenth place for PHEVs and Smart in thirteenth and MG in sixteenth place for the Electric Vehicle rankings.