About 1.2 million new EVs have been sold in the EU this year. This indicates a growth of 53.1% over last year. EVs now hold a 14% market share of total cars sold in the EU.
Electric Vehicle (EV) registrations have outpaced diesel vehicle registrations in the European Union (EU). A European Automobile Manufacturers’ Association (ACEA) report also revealed higher registrations for hybrid vehicles.
Last month, battery-electric car registrations increased by 36.3% compared to October 2022. In numbers a total of 121,808 units were registered during October 2023. On the other hand, the diesel car market continued to decline, and year on year (YoY), it fell 13.2%.
A total of 1.2 million new EVs have been sold in EU so far this year. This indicates a growth of 53.1% over last year. EVs now hold 14% market share of total cars sold in EU.
In October 2023, EU registrations of battery-electric cars increased significantly, growing by 36.3% to reach 121,808 units. Several markets contributed to this expansion with triple-digit percentage increases, particularly Belgium (+147.3%) and Denmark (+100.7%). Following a slowdown in September, Germany – the largest market for battery-electric cars – grew modestly (+4.3%) in October.
New EU registrations of hybrid-electric cars surged by 38.6% in October, propelled by substantial growth in the region’s top three markets: Germany (+57.9%), France (+40.1%), and Italy (+28%). This contributed to a cumulative increase of 29.8%, totalling 2.2 million units sold in the first ten months, representing over a quarter of the market.
Plug-in hybrid electric car sales dropped by 5% year on year to 72,002 units last month. Despite notable increases in Belgium (+70.2%) and France (+34.2%), this was insufficient to offset Germany’s decline (-49%), the largest market for this power source. As a result, the market share of plug-in hybrid cars decreased from 10.2% to 8.4% in October.
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