- EV registrations rebound in April, increasing by 14.8% to a total of 108,552 units.
- EVs maintain a 12% market share year-to-date, up by 6.4% compared to last year.
EV registrations are on the rise as the EU elections approach
In April 2024, the EU new car market saw substantial growth, with new registrations surging by 13.7% to a total of 913,995 units. This increase was fuelled by impressive performances in Spain (+23.1%) and Germany (+19.8%). The growth can be partially attributed to two extra sales days compared to the previous year, due to the Easter holidays falling in April last year.
Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), commented;
“It is reassuring to see the EU new car market return to growth in April. Following a contraction of -5.2% in March, the market has experienced robust growth of 13.7%, signalling a strong start to Q2.”
EV registrations showed a notable rebound in April, increasing by 14.8% to a total of 108,552 units. This positive performance follows a decline of -11.3% in March. As a result, EVs maintained a 12% market share. Year-to-date figures indicate that battery-electric cars have risen by 6.4% compared to the previous year.
In April, hybrid-electric car registrations surged by 33.1% to 265,992 units, boosting their market share to 29% from 24.9% in April 2023. Major markets saw robust growth: France (+48.1%), Spain (+38.5%), Germany (+25.9%), and Italy (+22.8%).
Plug-in hybrid registrations increased modestly by 3.7%, with Germany’s 28.4% rise offsetting declines in Belgium (-17.6%) and France (-0.1%).
Sue Robinson added;
“The bounce back which the EU new car market demonstrated in April is positive and it is also promising to see that EVs have rebounded to the strength of previous months.
It should be noted that EV market share in the EU has been hovering around 12% over the past few months, slightly below that recorded in the UK. Both the UK and EU governments need to incentivise consumers to make the switch to electric vehicles to avoid sales flatlining.
With elections taking place in the EU next month, NFDA will continue to monitor developments in Europe and their potential impact on the UK automotive industry.”
As the EU new car market shows signs of recovery and EVs demonstrate resilience, the upcoming elections in Europe could potentially shape future automotive policies. Maintaining momentum in EV adoption will be crucial, and both the UK and EU governments have a pivotal role in incentivising consumers to transition to electric.
