Data from the European Automobile Manufacturers’ Association has revealed that electric cars outsold internal combustion engine (ICE) vehicles last year. Europeans bought a whopping 1,538,621 battery electric cars in 2023, up from 1,123,444 BEVs in 2022, representing a 37% year-on-year increase in annual BEV sales.
European drivers also registered 813,430 new plug-in hybrids (PHEVs), down from 874,777 PHEVs in 2022. Data from the ACEA also shows that 10.5 million new cars were registered in the European Union in 2023 with total vehicle sales in the regional bloc increasing by 13.9% from the previous year.
All EU markets except Hungary reported an increase in new car registrations. Dataforce 2023 revealed that gasoline-powered vehicles accounted for 35.3% of new vehicle registrations followed by conventional hybrids at 17.1% and battery electric cars at 14.6%. The Tesla Model Y was the most successful vehicle across all car types with 254,822 units sold followed by gas-powered models Dacia Sandero at 235,893 and VW T-Roc at 206, 438.
Belgium saw new EV registrations increase by 148% to 93,285 followed by France, with a 104% increase to 62,750 units, and Portugal, where new EV registrations increased by 102% to hit 36,390. German consumers bought the highest number of electric cars at 524,219 units followed by France, which reported 298,219; the Netherlands, which reported 113, 981; and Sweden, which reported 112,208.
Most European nations, including non-EU countries such as Norway and the United Kingdom which also saw a surge in EV sales last year, are keen on adopting electric vehicles as part of global efforts to cut carbon emissions and combat climate change. Diesel vehicles have been the primary mode of vehicular transportation in many EU states due to their supposed fuel efficiency. Unfortunately, their significant contribution to global carbon emissions has made them unsuitable for a carbon-free economy.
Despite their higher prices compared to conventional vehicles, EVs have enjoyed increasing sales in recent years as more and more people opt for the electric drivetrain over the combustion engine. Numerous governments across the European continent have provided tens of millions of dollars in subsidies to incentivize EV purchases among their residents.
Tesla was largely responsible for introducing the world to electric vehicles and enjoyed a significant market lead for more than a decade. Most established carmakers in Europe now have an EV line or a plan for developing electric vehicles soon. However, much like Tesla, they will have to contend with increasingly stiff competition from heavily subsidized EVs from China.
As companies such as QuantumScape Corp. (NYSE: QS) progress in their quest to develop solid-state batteries for electric vehicles and other applications, the uptake of EVs could see a bigger uptick over the coming years.
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