Electric Car Sales Drop in EU in 2024: ACEA
- Business Automobiles Companies World
Global Business Magazine- 4 minutes read
Sales of new electric cars fell in the European Union last year, according to new data released by industry body the European Automobile Manufacturers’ Association (ACEA) on Tuesday.
ACEA represents the 16 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, JLR, Mercedes-Benz, Nissan, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, and Volvo Group.
A report by car magazine Autocar said that 91,400 fewer battery-operated EVs (BEVs), or a 1% reduction in market share, were sold in the EU in 2024 compared with the year before. The slump is tied to the withdrawal of subsidies in key markets, as the governments across the EU tighten their funding belts.
Germany’s ministry for the economy and climate cut its $4660.80 grant for electric cars in December 2023 and the EVs’ share of the nation’s new car market fell from 18.4% that year to just 13.5% in 2024.
In November 2024, France slashed its EV grant from a maximum of $7250.13 to $4142.93, and completely axed it for 2025. The following month, electric car sales in the nation fell by 20.7% compared with a year prior, the magazine said.
According to ACEA data, registrations of BEVs fell by 10.2% to 144,367 units in December 2024. This decline was primarily driven by a significant decrease in registrations in Germany (-38.6%) and France (-20.7%), leading to a 5.9% decrease in market volume for 2024 compared to 2023. As a result, the total market-share for the battery-electric cars stood at 13.6% for 2024.
Plug-in hybrid car registrations rose by 4.9% last month, driven by significant increases in France (44.9%) and Germany (6.8%). In December, plug-in hybrids accounted for 8.3%, maintaining the same level as the previous year. However, year-total volumes for 2024 were down by 6.8% compared to 2023, the data showed.
Hybrid-electric registrations increased by 33.1% in December, with market share rising to 33.6%, up from 26.5% last December, exceeding petrol car registrations for the fourth consecutive month.
Petrol and Diesel Cars
In December 2024, petrol car registrations dropped by 1.8%, with all major markets showing declines except Spain, which saw an increase of 16%. France experienced the steepest drop, with registrations plummeting by 23%, followed by Italy with an 11.4% decline. Germany also recorded a decrease of 7.4%.
With 269,260 new cars registered last month, the market-share for petrol dropped to 29.6%, down from 31.6% in the same month last year. The diesel car market declined by 15%, resulting in a 9.8% market share for diesel vehicles last December. Overall, double-digit declines were observed in most EU markets.
