EVs & PHEVs Drive Q1 2024 EU Car Sales - More Than 1-in-10 Are EVs

Electrified vehicles - both EVs and hybrids - drove European car sales in the first quarter (Q1) of this year.

European car sales for the first quarter (Q1) of 2024 saw increased demand for electrified vehicles - both electric (EVs) and hybrids - driving record figures.

According to figures published by the European Automobile Manufacturers’ Association (ACEA), over 3.7 million new vehicles were registered in the EU between Jan and April 2024.  Said figure marks a 6.6% increase over the same period last year.

Notably strong growth was recorded in the continent’s key markets like Germany and Spain as both saw car sales increase by 7.8%, followed by France with a 7% rise, as well as Italy where car sales rose by  6.1%.

According to the ACEA, Q1 2024 saw sales of petrol- and diesel-powered cars drop to 48.9% from 52.8% recorded last year.

Increased demands for hybrids, EVs, and PHEVs instead stood as key drivers for the EU's Q1 2024 car sales.

Petrol vehicle sales climbed by 7.3% in April to 328,967 units, likely driven by significant gains in Spain (+24.1%), Germany (+18.6%), and Italy (+14.1%). The diesel market remained stable with 118,000 units sold, maintaining a 13% market share. despite mixed results across various markets.

The association also notes that petrol and diesel vehicles accounted for 48.9% of total Q1 2024 sales, which is lower than the 52.8% figure recorded back in April 2023. The association attributes this decline to stem from increased sales of hybrids, which rose to 29.1% this year from 24.9% in 2023.

On the electrified front, sales of traditional hybrid vehicles soared by 33.1% in April, with France experiencing a 48.1% increase, Spain 38.5%, and Germany 25.9%. A total of 265,992 hybrids were shifted in April alone, whereas plug-in hybrid (PHEV) sales also rose by 3.7%, totaling 62,148 units.

Q1 2024 EU car sales figures published by the ACEA.

EVs, on the other hand, saw registrations increase significantly by 14.8% in April, reaching 108,552 units. Key drivers here were both France and Belgium where both markets reported substantial increases of 45.2% and 41.6% respectively.

Altogether, the market share for EVs held steady at 11.9%. Between Jan and April. In said period, a total of 441,992 new EVs were registered across the EU, marking a 6.4% increase compared to the same period last year. KR