
EV registrations in Europe decrease by 5.9% in 2024
The European automotive market experienced slight growth of 0.8% in new vehicle registrations in 2024, reaching 10.6 million units. However, data from the European Automobile Manufacturers' Association (ACEA) paints a less optimistic picture for electric vehicles, whose registrations declined compared to the previous year, while hybrids gained market share.
Decline in electric vehicles sales
Battery electric vehicles (BEVs) remained the third most popular choice for buyers in 2024. In December, their market share stood at 15.9%, contributing to an annual share of 13.6%, surpassing diesel (11.9%). However, electric vehicle registrations fell by 5.9% year-on-year. The contraction was even more pronounced in December, with a 10.2% drop compared to the same month in 2023, driven by sharp declines in key markets such as Germany (-38.6%) and France (-20.7%).
This decline highlights significant challenges, including reduced government incentives, the high upfront cost of these vehicles, and the lack of charging infrastructure in several European Union countries.
Hybrids lead the growth
In contrast, hybrid electric vehicles (HEVs) showed strong momentum in 2024, with a 33.1% increase in registrations in December alone. This vehicle category achieved a 30.9% market share for the year, solidifying its position as the second most popular choice after gasoline-powered vehicles (33.3%).
Plug-in hybrids (PHEVs) also showed signs of recovery in December, with a 4.9% increase. However, total annual volumes for PHEVs fell by 6.8%.
The slight overall growth in registrations (+0.8%) contrasts with declines in key markets. Germany (-1%) and France (-3.2%) recorded drops in annual sales, while Italy experienced a slight decrease of 0.5%. Spain stood out as a positive exception, with a 7.1% increase in 2024 and a remarkable 28.8% growth in December, leading the region in growth.
Source: ACEA
Transition underway but with obstacles
Although electric and hybrid vehicless continue to gain market share, the decline in electric vehicle registrations underscores the significant barriers to the transition toward sustainable mobility. The drop in major markets like Germany and France highlights the need for more consistent policies to promote electric vehicle adoption, from enhanced financial incentives to improvements in charging infrastructure.
In this context, hybrids are emerging as an intermediate solution that continues to gain traction, while internal combustion engine vehicles, particularly diesel, continue their decline. However, for electric mobility to thrive in Europe, it will be crucial to overcome current limitations and ensure more robust growth in the coming years.
Upcoming topic on the European agenda
Amid falling sales and registrations, uncertainty is growing within the automotive sector. The European Commission has announced that a strategic dialogue on the future of the European automotive industry will take place on January 30. This dialogue will address critical issues such as innovation, clean transition and devehiclesbonization, competitiveness and resilience, international trade relations, fair competition, regulatory streamlining, and process optimization.
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