The share of electric models in new cars in Europe fell in the first half of 2024, slowing the growth of these engines, according to figures published by manufacturers on Thursday.
After three years of frenetic growth, electric cars only experienced a slight increase (+1.3%) in the first half of the year and accounted for 12.5% of sales, compared to 12.9% at the beginning of 2023.
The abolition of subsidies for the purchase of electric cars at the end of 2023 in Germany, the largest market on the continent, has slowed the growth of this type of motorisation, which, however, should be consolidated by 2035, according to the European Commission’s plans.
The American brand Tesla, market leader in electric vehicles with its Model Y, saw its European sales decline by 9.1% in the first half of the year.
However, electricity sales continued to grow in some major EU countries, such as France, in particular thanks to the “social leasing” system, but also in Italy and Belgium, thanks to tax advantages for companies.
Thus, during the first six months of the year, the market share of electric vehicles increased to 17.4% in France according to AAAData, compared to 14.6% for the whole of 2023.
Hybrid on the rise
Overall, the European market experienced a slight rebound in the first half of the year, up to 5.7 million vehicles (+4.5%), but sales are still far from their pre-Covid level.
Instead of choosing electric cars, where the range of affordable models remains limited, buyers have turned more towards hybrid models (+22.3%), which now represent 29.2% of the market.
At the same time, sales of petrol and diesel models continued to decline in most European countries, but recovered in Germany and Italy: both engines account for 35.3% and 12.9% of the market respectively.
In this climate of uncertainty, hybrid pioneer Toyota posted good results in the first half of the year (+20.7%), especially with its Yaris assembled in France, and its market share reached 7.8%, on a par with the Hyundai-Kia group.
Market leader Volkswagen grew by 4.1%, thanks in particular to its Skoda and Cupra brands.
Number 2, Stellantis (+0.5%), saw its market share fall to 18%, with sales falling in particular at Peugeot. The Renault group is growing slightly (+2%), thanks to its Dacia and Alpine brands.
Source: BFM TV
