The latest data from the European automotive sector shows a rather surprising decline in the share of electric car sales in October, with a market share of “only” 14.2%. This data is in stark contrast to the peak of 21% reached in August 2023. However, compared to last year’s indicators, the share of electric cars is growing.
By the end of 2022, electric vehicles accounted for 12% of total sales in the European Union. Despite the fall in October, they managed to overtake diesel for the first time in the first ten months of the year with a market share of 14%. Gasoline models retain first place with 33.4% of sales, followed by hybrids with 29%.
Return to pre-crisis level soon?
In general, the European car market continues to show signs of recovery, with an increase in the number of new passenger car registrations in October by 14.6% compared to the previous year. For ten months of the year, the growth was 16.7% and amounted to almost nine million pieces.
However, these figures remain below pre-pandemic levels marked by disruptions in supply chains, including the crisis at prominent semiconductors.
This ten-month recovery is mainly driven by major European markets such as Germany, France, Italy and Spain, which recorded growth of 13.5%, 16.5%, 20.4% and 18.5% respectively.
How are you doing in the main groups?
The Volkswagen Group maintains a dominant position in the European market with a market share of 26.1% in the first ten months of the year. The increase in the number of registrations by 20.5% compared to 2022 is confirmed by the good performance of Skoda and Audi. This is in general contrast to the EV group’s sales, which are in freefall, as we discussed on Auto Plus a few days ago.
For its part, Stellantis suffered a slight decline, losing almost two points of market share to 18.4%. Its registration growth, while positive at 6%, is below the overall trend. Groupe Renault continues its recovery with a market share of 10.9% and growth of 21.2% compared to the previous year. This success is largely due to Dacia.
Read also:
Chinese electric cars: a radical way that Europe found to prevent the “influx”
Europe wants to put obstacles in the way of Chinese electric cars
According to Volkswagen, China is “two to three years ahead” in terms of electric vehicles
Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.