Recent data from the European Automobile Manufacturers Association (ACEA) revealed a significant shift in the European Union's automotive market. In September, hybrid vehicles accounted for 32.8% of new car sales, surpassing gasoline-powered cars for the first time. This highlights a growing trend as consumers increasingly view hybrids as a cost-effective middle ground between traditional fuel and fully electric vehicles.
Overall car sales in Europe declined by 6.1% compared to the same period last year, attributed to stagnation in major markets like Germany, France, and Italy. Despite this decline, the popularity of hybrid electric vehicles (HEVs) has been on the rise, while sales of fully electric vehicles and plug-in hybrid electric vehicles (PHEVs) have slowed. This slowdown can be partly attributed to differences in green incentive policies across European nations and high tariffs imposed by regulators to deter Chinese electric vehicles.
Data indicates that electric vehicles, which include pure electric, plug-in hybrid, and hybrid cars, made up 56.9% of all new passenger car registrations in the EU for September, up from 50.3% last year. While sales of pure electric vehicles grew by 9.8% year-over-year in September, they have seen a 5.8% decline year-to-date. Meanwhile, hybrid vehicle sales increased by 12.5%, contrasting with a 17.9% decrease in gasoline car sales, which captured a 29.8% market share.
