Electric car sales growth slowed in February in Europe

The growth of electric car sales slowed in February in the European Union, according to figures published on Thursday by the Association of Manufacturers (ACEA).

Electric car registrations increased in volume in February 2024 (106,187 units, +9% year-on-year) like the entire market (883,608 units, +10.1%), compared to a month of February 2023 still slowed by shortages. of electronic parts.

But after two years of strong growth, the market share for electrical products stagnated at 12% in February, down from 14.6% for all of 2023.

This is, in particular, the effect of a sharp drop in sales in Germany (-15.4%), the main European market, where purchasing aid was suddenly eliminated at the end of 2023.

The success of hybrids

Electric vehicle sales also remain low in other major markets such as Spain and Italy, but have continued to grow in France (thanks to the social leasing system), Belgium and the Netherlands.

More dynamic than electric cars, sales of hybrid cars accounted for most of the sales growth in most countries, with 255,511 units sold (+24.7% in one year).

Hybrids already represent 28.9% of the market and are increasingly following gasoline cars with a market share of 35.5% (313,821 units, +6.1%).

Although the sale of cars with thermal engines will be prohibited in Europe in 2035, all manufacturers have increased their offer of hybrid and electric cars. But hybrids are still more accessible than electric ones and more versatile for the moment.

Diesel passenger cars continue to fall (113,891 units, -5.1%), despite a slight rebound in Germany. They represent 12.9% of the market.

The decline of Renault

Overall, the new vehicle market grew by 5.4% in Germany, 13% in France, 12.8% in Italy and 9.9% in Spain.

The Stellantis group mainly benefits from this increase, with 172,268 vehicles sold (+12% and 19.5% market share), in particular thanks to the rebound of its Citroën brand.

The European leader Volkswagen also shows progress compared to the low comparison base of February 2023, with a market share of 25.9% (228,886 units, +9.8%).

The Renault group saw its market share decrease to 10.4% (91,722 units, +5.8%).

The Toyota group, for its part, shows clear evolution (+16.8%) and is tied with Hyundai-Kia (+2.3%), with a market share of 7.8%.