Electric vehicle sales lose market share in Europe

Published Feb 22, 2024


The market share of electric vehicles dropped below 11 percent in Europe last month, despite an increase in sales as the overall vehicle market rebounded, data released on Tuesday by the European Automobile Manufacturers' Association (ACEA) showed.

A total of 92,741 electric vehicles were sold in Europe last month, an increase of 28.9 percent from January last year.

That gave electric vehicles a 10.9-percent share of the overall market, down from the record 14.6 percent for 2023 as a whole.

An end to an environmental bonus for electric cars in Germany available to households made them much more expensive compared to traditional internal combustion engine vehicles.

The sale of diesel vehicles, which has been declining for the past few years, moved ahead of electric vehicles in terms of market share at 13.4 percent.

Hybrids dipped to 28.8 percent, behind cars equipped with petrol engines at 35.2 percent.

Even though overall vehicle sales rose by 12.1 percent from last Janauary to 851,690, that remains low by historical standards.

Agence France-Presse