Sunday, December 10, 2023

The share of electric vehicles in the EU surpassed diesel for the first time until October

The transformation of the auto industry towards electromobility is beginning to bear fruit. Although progress is gradual, the choice of diesel models has taken a backseat.

Therefore, for the first time in the EU, the registrations of electric cars surpassed diesel models in the accumulated number in the first 10 months of the year, according to data from the European Association of Manufacturers (Acea).

Thus, between January and October, a total of 1,233,912 electric vehicles were sold in the European Union (EU), 53.1% more year-on-year and a market share of 14%. Diesel models, for their part, gathered a total of 1,221,230 units in the first 10 months of the year in the EU, 5% lower compared to the same period in 2022 and a market share of 13.8%.

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In October 2023, registrations of electric vehicles in the EU increased by 36.3% to 121,808 units. Several markets contributed to this expansion with triple-digit percentage increases, especially Belgium (+147.3%) and Denmark (+100.7%). After a slowdown in September, Germany, the largest market for battery electric cars, grew moderately (+4.3%) in October.

Hybrid car registrations rose 38.6% in October, driven by significant growth in the region’s three main markets: Germany (+57.9%), France (+40.1%) and Italy (+28%) . This contributed to a cumulative increase of 29.8%, which amounted to 2.2 million units sold in the first 10 months, representing more than a quarter of the market.

Sales of plug-in hybrid vehicles fell 5% year-on-year in October, to 72,002 units. Despite the remarkable increase in Belgium (+70.2%) and France (+34.2%), this is not enough to offset the decline in Germany (-49%), the largest market for this energy source.

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Cumulatively in the first 10 months of the year, new car registrations increased by 16.7%, reaching almost nine million units. All markets grew during this period, except for Hungary. In addition, the four largest markets: Italy (+20.4%), Spain (+18.5%), France (+16.5%) and Germany (+13.5%) contributed to this positive trend.

In October, the EU car market experienced a growth of 14.6%, reaching 855,484 units. This marks the 15th consecutive month of growth, with notable double-digit percentage increases in the three largest markets: France (+21.9%), Italy (+20%) and Spain (+ 18.1%). However, the German car market – the largest in the EU – reported a more modest increase of 4.9% compared to last year.

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Nation World News Desk
Nation World News Desk
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