European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Renault showed the strongest sales growth, its registrations increasing 11%.
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In July, almost one in four new cars sold in Europe were fully electric vehicles, a 51% year-over-year jump.
According to data compiled by Jato Dynamics, European new passenger car registrations reached 1.1 million units, up 4% year-over-year.
The growth was driven by electrified powertrains, pure EVs accounting for 25% of the market share. Mild hybrid electric vehicles took 22% market share, regular hybrids 13% and plug-in hybrids about 12%.
Gas-powered vehicle registrations dropped 22% year-over-year, their market share declining nine percentage points to 27%.
“The standout story in July wasn’t overall market growth, it was the speed of BEV expansion,” said Jato Dynamics Regional Consultant Europe Steffen Michulski.
EV performance varied regionally. Northern and western European markets led EV adoption while southern and eastern markets preferred hybrids.
Brandwise, Volkswagen was the most-registered car make, despite its sales volume declining 4% year-over-year. Renault showed the strongest growth with registrations increasing 11%.
“The winners are increasingly those with compelling EV line-ups, while combustion continues to move into the background,” Michulski said.
By contrast, U.S. new EV sales saw a modest 3% jump over June but a dramatic 42% year-over-year decline. However, the year-over-year comparison must be taken with a grain of salt since last year’s numbers were inflated due to customers rushing to buy before the federal EV incentive expired.
On the other hand, used EV sales increased 8% month-over-month and 10% year-over-year.
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