EU registers 71,984 battery electric vehicles in January 2023
The European electric vehicle (EV) market experienced a significant boost in January 2023, with a collective increase of 12.7% in registrations. This growth was driven by double-digit percentage gains in the majority of the EU's markets, according to recent data.
In the realm of battery electric vehicles (BEVs), the EU saw an increase of 22.9%, with a market share of 9.5%. This growth was particularly notable in Germany, Sweden, and Italy, where BEV registrations decreased, but not as sharply as one might expect. Germany saw a decline of 13.2%, Sweden a drop of 18.5%, and Italy a decrease of 8.7%. Despite these decreases, the overall BEV market in the EU continued to expand.
The EU's plug-in hybrid vehicle (PHEV) market, however, saw a decline of 9.9% in January. Germany, which has been the largest volume market for PHEVs in the EU since last year, experienced a more substantial drop, with PHEV registrations more than halving (-53.2%). Despite this decrease, Germany still registered about 37,200 new PHEVs in January, far exceeding the UK’s approximately 19,900 registrations for the same period.
Hybrid electric vehicles (HEVs) had a strong performance in January, with double-digit growth in the four largest EU markets. HEV registrations increased by +59.3%, +24.7%, +19.0%, and +12.5% in Spain, Italy, Germany, and France respectively. As a result, HEV registrations reached 197,982 units in January, giving them a market share of 26.0%. The growth in HEV registrations was higher than the growth in gasoline vehicle registrations in all of the EU's major markets, except Germany.
The increase in gasoline vehicle registrations was supported by all of the EU's major markets, including Spain (+59.4%), Italy (+15.5%), France (+11.9%), and Germany (+3.5%). New gasoline vehicle registrations in the EU increased by 12.3% in January, with a market share of 37.9%.
The diesel car market, on the other hand, struggled last month, with a 1.6% loss. Despite a considerable gain in registrations in Italy (+21.4%) and Spain (+19.0%), the overall diesel car market in the EU continued to shrink. As a result, the diesel car market's market share decreased by 2.0 percentage points, from 17.9% to 15.9%.
Overall, the EU's EV market share increased from 42.5% in January 2022 to 46.6% in January 2023. The market share for PHEVs, however, decreased from 8.7% in January 2022 to 7.1% in January 2023. This shift towards battery electric vehicles is a clear indication of the growing preference for zero-emission vehicles in the EU.
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