Decline in Electric Vehicle Registrations Across the EU
Electric vehicle sales in the European Union saw a noticeable decline in July, driven largely by Germany’s reduced financial incentives for electric car purchases. According to the European Automobile Manufacturers’ Association (ACEA), electric car registrations fell by 10.8%, totaling 102,705 units for the month. This drop reduced the market share of electric vehicles to 12.1%, down from 13.5% in the same month last year.
Germany’s Lag in Electric Car Sales
Germany, the EU’s largest car market, recorded a significant 36.8% drop in electric vehicle registrations in July. The reduction is attributed to the government slowing down its financial incentives for electric vehicle buyers, making the cars less affordable for many consumers. While other countries like the Netherlands and Belgium reported increases in electric vehicle registrations—8.9% and 44.2%, respectively—these gains could not offset Germany’s downturn.
Mixed Results for Hybrid and Plug-in Hybrid Vehicles
Sales of plug-in hybrid cars also fell by 14.1% across Europe, despite a slight 3.2% increase in Germany. Plug-in hybrids represented 6.8% of the automotive market, down from 7.9% the previous year. Meanwhile, hybrid-electric vehicle sales surged by 25.7% in July, with notable increases in Spain (31.5%), Italy (17.4%), and France (47.4%).
Gasoline and Diesel Car Sales Face Challenges
Petrol car sales in the EU also saw a 7% decline in July. Spain and France experienced the most significant drops at -12.5% and -22.6%, respectively. In contrast, Germany reported a slight uptick of 0.1%, while Italy saw a 3.8% increase. Diesel car registrations continued to fall, with Italy, Spain, and France experiencing substantial declines, though Germany noted a modest increase of 1.4%.
Overall Car Market Sees Moderate Growth
Despite the challenges in the electric and hybrid sectors, overall passenger car registrations in the EU rose by 0.2% in July, marking the second consecutive month of growth. While the increase is modest compared to June’s 4.3%, it brings total car sales for the first seven months of the year to over 6.5 million units. Electric cars accounted for 12.5% of this total, reflecting a mixed landscape for the automotive market in Europe.
SOURCE: Ref Image from The Times
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