Big brake for electric cars

The latest European registration figures are hardly encouraging for electric cars. Their market share fell in July 2024 in Europe. With a drop in sales in Germany.

-36.8%! This is the collapse in sales of new electric cars in Germany in July 2024 (compared to July 2023). According to figures from the European Automobile Manufacturers Association ACEA, this sharp decline began in January in Germany since the abolition of the ecological premium. Across the entire European Union market, the decline is at -10.8% (102,705 registrations). Their market share is therefore suffering the consequences, falling from 13.5% in July 2023 to 12.1% in July 2024!

Tax engine

However, some markets are positive, such as Belgium (+44.2%) with its recent tax system that almost requires companies to drive electric, the Netherlands (+8.9%) also due to its tax system, and to a lesser extent France (+1%) due to its ecological bonus. Outside the EU, in the United Kingdom, sales of EVs increased by +18.8%, also driven by a tax exemption (which will end on April 1, 2025). In Iceland (-43.3%), Switzerland (-5.9%) and Norway (-3.5%), on the other hand, it is in the red.

Hybrids

The same observation is made for plug-in hybrid cars with a -14.1% drop in registrations. On the other hand, there is a solution that is gaining momentum: non-rechargeable hybrid cars. The increase in sales recorded in the EU is +25.7%, +24.4% across the continent! The share of sales of 100% thermal is now below 50% (46%), driven by the fall of Diesel.