- ACEA reports: BEVs fell by 1% in June 2024, dropping market share to 14.4% due to incentives and tariffs.
- HEVs surged 26.4% in June, increasing market share to 29.5% amid consumer concerns over EVs.
- PHEVs saw a 19.9% drop in registrations, reducing market share to 6.1% across major markets.
ACEA reports mixes results for the EU’s new EV registrations for June 2024
ACEA (European Automobile Manufacturers’ Association), reports that in June 2024, EVs painted an interesting, and mixed, picture across the European Union. Battery-electric vehicles (BEVs) experienced a slight decline, while hybrid-electric vehicles (HEVs) saw substantial growth.
BEVs held a 14.4% share of the EU car market in June, down from 15.1% a year earlier. Registrations of BEVs fell by 1% to 156,408 units. The drop was notable in several key markets: Germany saw an 18.1% decline, the Netherlands decreased by 15%, and France fell by 10.3%. Many of these territories are grappling with the loss of government incentives, or the introduction of import tariffs, which are shaking the markets temporarily.
Despite these losses, Belgium and Italy reported robust gains, at +50.4% and +117.4% respectively. Overall, for the first half of 2024, BEV registrations totalled 712,637 units. That represents 12.5% of the market—a 1.3% increase from the same period last year.
On the other hand, HEVs saw a significant surge. In June, HEV registrations jumped by 26.4% to 321,959 units. All major markets reported strong growth: France (+34.9%), Italy (+27.2%), Spain (+23%), and Germany (+16.5%). This growth boosted HEV market share to 29.5%, up from 24.4% in June 2023. Delays in EV roll-out and a lack of consumer confidence could be to blame for this. These factors mean that would-be adopters may feel the infrastructure or pace of transition is inadequate for them to make the switch just yet. Hence, they revert to a more environmentally friendly, yet still gas station reliant, vehicle.
Plug-in hybrid vehicles (PHEVs) faced challenges, with registrations plummeting by 19.9% last month. Belgium (-49.2%), France (-21.7%), and Germany (-3.4%) all saw significant declines, resulting in PHEVs accounting for 6.1% of the market, down from 7.9% last year.
Overall June 2024 revealed a mixed landscape for the EU electric vehicle market. While BEVs saw a slight decline in both market share and registrations, HEVs experienced robust growth, significantly increasing their market presence. Plug-in hybrid vehicles (PHEVs) faced a sharp drop in registrations, reflecting ongoing shifts in consumer preferences.
The data shows a shake, but not a falter, in EV registrations. Mixtures of negative press, pressures surrounding imports, and a lack of consumer confidence could all be to blame. Stability and growth are integral to supporting this transition, as drivers must see a market that is healthily expanding and providing the tools and infrastructure we need.
