The momentum of electric vehicles (EVs) in Europe is gaining notable traction, with EVs accounting for a significant portion of car sales in the region. In August of this year, more than one in five cars sold in Europe were fully electric, according to data from the European Automobile Manufacturers Association (ACEA). This surge in EV adoption is a clear indication of the shifting automotive landscape.
A substantial 165,156 fully electric vehicles were sold in Europe in August, doubling the figures from the same month in the previous year. This impressive performance amounted to 21% of total vehicle sales for the month, showcasing the growing preference for EVs among European consumers.
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While EVs still have ground to cover before becoming the dominant vehicle type, they have already surpassed the sales of plug-in hybrids, which accounted for 7.4% of the market. Moreover, they are closing in on non-pluggable hybrids, which held a 23.9% market share. This rapid growth in EV demand has also outpaced diesel-powered vehicles, which now constitute only 12.5% of the market, marking a significant decline from over 50% just eight years ago.
Considering the doubling of EV sales and their current trajectory, it’s likely that they will surpass traditional internal combustion engine (ICE) models, which currently hold a 50% market share, well before the 2035 deadline for Europe’s combustion engine ban. Impressively, nearly 1 million EVs have been sold across Europe from January to August this year, underscoring the maturity of the EV market on the continent.
Comparatively, the North American market still has some catching up to do. While EV sales in North America saw a substantial 63% increase in the first quarter of this year, they only constituted approximately 7.2% of total vehicle sales between January and July. This suggests that Europe is ahead in terms of EV adoption, marking a clear contrast in the automotive landscape between the two regions.
