fbpx
Car News Updated Hourly

Electric cars jolt Europe sales for 2023 – ET Auto

The figures marked a stark turnabout from 2022, when new vehicle registrations dropped to their lowest levels since 1993 as component shortages hindered automakers.

New car sales in Europe rebounded by 13.9% in 2023 as electric vehicles overtook diesel for the first time, an industry group said on Thursday.

Sales of new electric cars shot up by 37% year-on-year and accounted for 14.6% of overall sales, the European Automobile Manufacturers’ Association said.

Elon Musk’s Tesla saw sales of its electric cars nearly double in the region last year to 279,000, with its SUV Model Y taking the crown of the top-selling vehicle in Europe.

The figures marked a stark turnabout from 2022, when new vehicle registrations dropped to their lowest levels since 1993 as component shortages hindered automakers.

In particular, sales in France, Italy and Spain posted double-digit increases, compared with 2022.

continued below

Sales were still far below pre-Covid levels, however.

Automakers face a 2035 deadline set by the European Union to phase out sales of new combustion engine vehicles.

Sales of hybrid cars also soared last year, up by nearly 30 %.

However, plug-in hybrids — those equipped with a thermal engine and a small rechargeable electric battery — saw a sales decline for the first time, dropping seven %, after many governments phased out state incentives.

Petrol cars remained a large part of the new vehicle market, at 35.3 % of Europe-wide sales last year, representing 3.7 million cars.

Volkswagen remained in pole position among car manufacturers, with the group selling 2.8 million new cars in 2023, up by 18 % on the previous year.

French auto maker Renault saw sales growth of 16.9% through the year, although Stellantis — whose vehicle brands include Fiat and Jeep — only saw sales climb by 2.9%.

  • Published On Jan 19, 2024 at 04:35 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETAuto App

  • Get Realtime updates
  • Save your favourite articles



This article was originally published by a auto.economictimes.indiatimes.com . Read the Original article here. .

Subscribe To Our Email List

If you ain't first, you're last! Join to get the latest updates and exclusive offers!

Welcome to the club!

Something went wrong.