- The European automotive market went down in November.
- Hybrids continued to develop their market share whereas electrical, fuel and diesel automobiles went down.
Because the yr is coming to an finish, the European electrical automobile market couldn’t be murkier. It’s a mishmash of numbers and relying on the place you look or who you ask, you may get two fully totally different solutions to the query, “How are EVs doing in Europe?”
In November, some nations like Greece, Cyprus, Eire and Czechia had double- and even triple-digit will increase in EV registrations, whereas others, similar to Croatia, France, Germany and Romania had double-digit decreases in EV registrations final month in comparison with the identical interval final yr.
These are all members of the European Union, however there’s additionally the European Free Commerce Affiliation (EFTA), which incorporates Iceland, Norway and Switzerland, that may go into the combination. The UK can also be an enormous market that must be thought-about.
So, how does the electrical automobile market look in Europe? In November, EV registrations within the European Union went down 9.5% in comparison with the identical month final yr, based on the European Car Producers’ Affiliation (ACEA). Nonetheless, when including the numbers for the EFTA and the UK, registrations really went up 0.9%.
Within the first 11 months of the yr–an arguably extra essential metric than the month-to-month numbers–EV registrations within the EU went down 5.4% in comparison with final yr. Within the EU, EFTA and UK, registrations went down 1.4%. So far, a complete of 1,787,600 EVs have been registered in Europe, down from final yr’s 1,812,987. Some nations like Germany, France and Romania diminished or eliminated monetary incentives for purchasing all-electric automobiles this yr, and it exhibits of their registration numbers.
The one energy supply that noticed constant beneficial properties all year long is hybrid electrical. Final month, hybrid automobile registrations elevated by 16.4% in comparison with final yr. Yr-to-date, 3,704,732 hybrids have been registered within the EU, EFTA and UK, an 18.7% enhance year-on-year.
Picture by: ACEA
Month-to-month automotive registrations in Europe, November 2024
Picture by: ACEA
January-November 2024 automobile registration numbers in Europe
Plug-in hybrids (PHEVs) went down 8.6% in November, with 83,400 registrations. Yr-to-date, PHEVs recorded a lower of 4.6% with a complete of 860,739 models registered. Gasoline- and diesel-powered automobiles have been additionally down. Gasoline automobile registrations declined 12.4% in November and 6.6% after 11 months. In the meantime, diesel registrations went down 15.4% final month 11.6% year-to-date.
Total, the European automotive market, together with the EU, EFTA and UK, went down 2% in November. Yr-to-date, the market went up a really modest 0.6%, a rise attributed virtually solely to the uptick in hybrid automobile registrations.
All this being stated, in all probability crucial takeaway is that the market share for each gasoline and diesel automobiles is shrinking. Eleven months into 2024, fuel automobiles have a 33.4% market share, down from 36% final yr, whereas diesel automobiles have 10.6%, down from 12% final yr. All-electric automobiles have a 15.1% market share, down from 15.4% final yr. Plug-in hybrids went down from 7.6% final yr to 7.2%, whereas hybrids soared from 26.5% market share within the first 11 months of final yr to 31.2% this yr.
