Electric Vehicle | EU sold 160,400 BEV and PHEV in July 2024, down 12.0% year-on-year; but HEV Sales Surge

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Electric Vehicle | EU sold 160,400 BEV and PHEV in July 2024, down 12.0% year-on-year; but HEV Sales Surge

Date：2024-09-02

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Keyword tags： Observation EU Data

According to the latest ACEA statistics，in July 2024, the new car registration sales of Battery Electric Vehicles (BEVs) in the EU countries reached 102,700 units, a year-on-year decrease of 10.8%, accounting for 12.1% of the EU car market, lower than the 13.5% of the same period last year. Despite increases in Belgium (+44.2%), the Netherlands (+8.9%), and France (+1%), the sharp decline in Germany (-36.8%) offset the growth in the BEV market.

The new car registration sales of Plug-in Hybrid Electric Vehicles (PHEVs) reached 57,700 units, a year-on-year decrease of 14.1%, accounting for 6.8% of the EU car market, also lower than the 7.9% of the same period last year.

In July, the combined sales of BEVs and PHEVs in the EU reached 160,400 units, accounting for 18.8% of the EU car market, a year-on-year decrease of 12.0%.

In July, the total market share of gasoline and diesel cars in the EU also decreased from 50% to 46%. However, the sales of Hybrid Electric Vehicles (HEVs) saw a significant increase of 25.7%. The HEV sales in the EU in July reached 273,000 units, and their market share also grew from 25.5% of the same period last year to 32%. All four of the largest automotive markets in this segment recorded double-digit growth: France (+47.4%), Spain (+31.5%), Germany (+22.4%), and Italy (+17.4%).

This indicates that the EU car market in July mainly relied on the sales of Hybrid Electric Vehicles (HEVs) to drive growth. The market from January to July also showed a similar trend.

Statistics show that from January to July of this year, the new car registration sales of Battery Electric Vehicles (BEVs) in the EU countries reached 815,400 units, a slight year-on-year decrease of 0.4%, down 4.1% month-on-month, accounting for 12.5% of the EU car market, lower than the 13.0% of the same period last year. The new car registration sales of Plug-in Hybrid Electric Vehicles (PHEVs) were close to 450,000 units, accounting for 6.9% of the EU car market, also lower than the 7.5% of the same period last year. The combined sales of BEVs and PHEVs reached 1,265,100 units, a year-on-year decrease of 1.7%.

From January to July, the total market share of gasoline and diesel cars in the EU also decreased from 51.4% to 47.9%.

However, the sales of Hybrid Electric Vehicles (HEVs) increased by 22.8% year-on-year, with sales reaching 1,935,700 units, and their market share also grew from 25.1% of the same period last year to 29.6%. Almost all European countries saw a positive increase in HEV sales, with several countries such as Poland (+44.2%), France (+38.2%), Spain (+26.7%), the Netherlands (+22.6%), and Germany (+13.7%) showing significant growth. The non-EU country the UK (+17.6%) also gained the similar growth.

Additionally, in terms of the ranking of electric vehicle sales by model, the Tesla Model Y remains the best-selling electric vehicle in Europe, followed by models from European automakers such as BMW, Mercedes, Volvo, and Volkswagen. Chinese brands are barely represented, reflecting the negative impact of the the EU's tariff policy on Chinese electric vehicles.

Looking at the overall EU car market, in July 2024, the new car registration sales of all drive types in the EU saw a slight increase (+0.2%), with the four main automotive markets experiencing slight increases or minor declines: Italy (+4.7%) and Spain (+3.4%) recorded moderate gains, while the French (-2.3%) and German (-2.1%) markets experienced declines.

In the first seven months of 2024, the new car registration volume of all drive types in the EU increased by 3.9%, reaching 6.54 million units, with the four largest car markets—Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%)—recording positive growth. Additionally, the UK, a non-EU country, also saw a 5.5% increase.

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