EU car market: Battery-Electric Vehicle (BEV) market share down by almost one third In August
London, September 19, 2024, (Oilandgaspress) ––In August 2024, new EU car registrations saw a sharp decrease (-18.3%) with negative results across the region’s four major markets: double-digit losses were witnessed in Germany (-27.8%), France (-24.3%), and Italy (-13.4%), with the Spanish market declining by 6.5%.
In August, battery-electric cars accounted for 14.4% of the EU car market, down from 21% the previous year. This represents the fourth consecutive month of decline this year, contrasting sharply with the almost consistent month-on-month increases last year. Plug-in hybrid car registrations were also marked by a sizeable 22.3% decline. The combined share of petrol and diesel cars also dropped slightly to 44.3%, down from 45.1%.
Electric cars
In August 2024, registrations of battery-electric (BEV) cars dropped by 43.9% to 92,627 units (compared to 165,204 the same period last year), with their total market share slipping to 14.4% from 21% a year before. This was driven by the spectacular drop in the two biggest markets for BEV cars: Germany (-68.8%) and France (-33.1%). From January to August, 902,011 new battery-electric cars were registered, representing 12.6% of the market.
Plug-in hybrid car registrations saw a decrease (-22.3%) last month, with declines recorded in all their major markets. In August, plug-in hybrids accounted for 7.1% of the total car market, down from 7.4% last year, with 45,590 units sold.
Hybrid-electric vehicles are the only vehicle type that saw growth in August, with car registrations rising by 6.6% to 201,552 units. Three of the four largest markets for this segment recorded gains: Spain (+12.6%), France (+12.5%), and Italy (+2.5%), while Germany (-0.1%) remained stable. The hybrid-electric market share reached 31.3%, up from 24% in August 2023.
Petrol and diesel cars
In August 2024, petrol car sales dropped by 17.1%, all four key markets recording significant declines: France (‑36.6%), Italy (-18.8%), Spain (-17.4%), and Germany (-7.4%). Petrol cars now represent 33.1% of the market, down from 32.6% in August last year.
The diesel car market saw a decline of 26.4%, resulting in a 11.2% share of the market last August. Double-digit decreases were observed in almost all European markets.
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