PARIS, Jan 21, (V7N) – Sales of electric vehicles (EVs) in Europe dipped slightly in 2024, marking a 1.3% decline from the previous year to 1.99 million units, according to data from the European Automobile Manufacturers Association (ACEA). This stall in growth comes despite global EV sales increasing by 25%, driven by a surge in China, as reported by the Rho Motion consultancy.

Total car sales in Europe, which includes Britain, Iceland, Norway, and Switzerland, grew by 0.9% in 2024 to nearly 13 million vehicles. EVs, while still the third-most-popular choice for buyers, saw their market share shrink from 14.6% in 2023 to 13.6% last year.

Petrol-powered vehicles retained a dominant position, accounting for one-third of all new cars sold, followed by simple hybrids at 30.9% and plug-in hybrids at 7.1%.

Regional Trends

Germany: EV sales dropped sharply by 27.4% following the expiration of government incentives at the end of 2023.

Britain: EV sales rose by 21.4%, making it Europe’s largest EV market by volume, with just under 382,000 units sold in 2024. This growth was fueled by stringent sales targets for automakers.

Norway: EVs constituted nearly 90% of all new vehicles sold, ahead of the country’s 2025 ban on internal combustion engine (ICE) vehicles. Norway's high taxes on ICE vehicles played a significant role in this transition.

Challenges and Outlook

The dip in EV sales raises concerns about Europe’s transition away from ICE vehicles, especially with the European Union’s planned 2035 ban on new ICE sales. The cost of EVs remains a barrier for many consumers, with sales heavily reliant on government incentives and policies.

While Norway exemplifies how taxation and policy can drive EV adoption, Germany’s decline highlights the potential risks of withdrawing subsidies too soon. Meanwhile, Britain’s robust growth underscores the importance of regulatory targets in accelerating EV uptake.

As Europe pushes toward its 2035 goals, balancing affordability, infrastructure development, and policy support will be crucial in sustaining EV market growth.

END/BUS/RH/