Electric Car sales reach Almost 50% of new cars sold in the EU

Electric cars sales in the European Union accounted for almost 50% of all new passenger car registrations between January and November 2023. In November alone, electric car sales in the EU crossed the halfway mark, according to data.

EV’s, including fully electric, plug-in hybrids, and full hybrids, achieved 47.6% of all new car registrations in the EU. This represents a significant increase from 43% in the same period last year. Figures reported by the European Automobile Manufacturers Association (ACEA).

New car registrations in the EU rose by 6.7% in November, marking the 16th consecutive month of growth. Electric vehicle registrations saw a year-on-year increase of 13.3%.
Petrol car registrations grew by 4.2% and diesel registrations dropped by 10.3%, based on the data provided.

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Registrations of fully electric cars saw a 16.4% increase from the previous year. This amount is equal to 144,378 vehicles. However, despite a 22.5% decrease in registrations in Germany, the largest EV market in Europe, with 44,942 vehicles registered.

Consumers in the electrified market continued to show a preference for hybrid-electric vehicles. A remarkable year on year surge of 28.7%, while demand for plug-in hybrids declined by 22.1%. The combined registrations of hybrid electric cars in Germany, France, and Italy totaled over 1.5 million vehicles year to date out of almost 2.5 million total vehicles in the EU.

Despite the rise in sales of electric vehicles, the ACEA expressed concern in early December that the EV sector in Europe could fall behind other regions without a robust EU industrial strategy. This concern comes in light of China’s dominance of the supply chain and U.S. incentives for its automakers.

Some automakers and analysts have also noted a plateau in demand for electric vehicles over the past months. Europe’s largest carmaker, Volkswagen, stated in October that demand for EVs was not developing as expected. However luxury vehicle maker Mercedes-Benz warned of a “brutal” EV market characterized by heavy price cuts and supply chain issues.

In November, registrations at Volkswagen and Renault increased by 11.4% and 6.1%, respectively, while registrations decreased by 7.3% for Stellantis, as reported by the ACEA.

Tesla, Elon Musk’s electric car company, experienced a jump of nearly 45% in registrations in the same month. This accounting for almost 22% of fully electric car registrations in the EU.

The number of new vehicles registered in November in the EU, Britain, and the European Free Trade Association (EFTA) grew by 6% to reach 1.08 million vehicles, according to the ACEA.

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