Electric Revolution: Nearly Half of EU’s New Cars in 2023 are Electrified
Sales of electric cars in the European Union were almost half of all new passenger car registrations in the EU between January and November 2023, reaching the halfway mark in November alone, according to data.
Electrified vehicles, including fully electric models, plug-in hybrids, or full hybrids, accounted for over 47.6% of all new passenger car registrations in the EU as of November. This marks an increase from 43% in the same period last year, as reported by the European Automobile Manufacturers Association (ACEA).
In November, new-car registrations in the EU increased by 6.7%, marking the 16th consecutive month of growth. The registration of electric vehicles saw a year-on-year rise of 13.3%, while petrol car registrations grew by 4.2%, and diesel registrations dropped by 10.3%.
Registrations of fully electric cars rose by 16.4% from the previous year, reaching 144,378 vehicles. However, in Germany, the largest EV market in Europe, registrations fell by 22.5% to 44,942 vehicles.
In the electrified market, hybrid-electric vehicles continued to be preferred by consumers, experiencing a year-on-year surge of 28.7%, while demand for plug-in hybrids declined by 22.1%.
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 of electric vehicles, the ACEA warned in December that the EV sector in Europe risks falling behind without a robust EU industrial strategy, citing China’s dominance of the supply chain and U.S. incentives for its automakers.
Some car makers and analysts have noted a plateau in demand for electric vehicles. Europe’s largest car maker, Volkswagen, mentioned in October that demand for EVs was not developing as expected. Luxury vehicle maker Mercedes-Benz also warned of a “brutal” EV market with heavy price cuts and supply-chain issues.
Registrations at Volkswagen and Renault rose by 11.4% and 6.1%, respectively, in November, while registrations dropped by 7.3% for Stellantis, according to the ACEA. Elon Musk’s electric car company, Tesla, recorded a jump of almost 45% in the same month, making up nearly 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 1.08 million vehicles, according to the ACEA.
