In a notable shift, electric vehicles (EVs) have emerged as the third most popular vehicle type in Europe, surpassing diesel-powered cars in new registrations from January to October, according to data from the European Automobile Manufacturers' Association (ACEA).
The ACEA's recent report reveals a substantial increase in new EV registrations in the European Union, totaling 1.2 million for the year-to-date, marking a significant 53.1% surge compared to the previous year. This development positions EVs with a 14% market share for the first ten months of the year, outpacing diesel-powered cars that now hold a 13.9% share.
The shift is particularly evident in the decline of diesel car sales, with a 13.2% decrease in October compared to the same period in 2022. Diesel's market share has dwindled from 15.9% in October of the previous year to the current 12%, showcasing a notable reduction from its dominance in 2015 when it held a 50% share of the European car market.
Battery-electric cars, in contrast, experienced a remarkable 36.3% increase in registrations in October 2023 compared to the same month in 2022, reaching 121,808 units. This surge propelled EVs to a 14.2% market share for the month, up from 12% in October 2022.
Hybrids also saw a healthy increase in sales, with 2.2 million new registrations in the EU from January to October, marking a 29.8% growth compared to the same period last year. However, plug-in hybrids experienced a decline in popularity, with a market share of 8.4% year-to-date, down from 10.2% in the previous year.
Gasoline-powered cars continue to lead in terms of registrations, with an 8.1% growth in market share in October. Nevertheless, the overall market share for gasoline cars contracted from 35.4% to 33.4% in the first ten months of the year compared to the same period in the previous year.
This shift in consumer preferences aligns with the European Union Parliament's decision to ban the sale of all new cars producing carbon dioxide emissions from 2035, underscoring the accelerating transition toward cleaner and more sustainable transportation options.