EU Electric Vehicle Market Shifts: BEVs Decline, Plug-in Hybrids Dip, Hybrid-Electrics Surge in May 2024

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In May 2024, battery-electric vehicle (BEV) registrations in European Union fell by 12% to 114,308 units, reducing their market share to 12.5%. Belgium and France were the only major markets to show growth, with increases of 44.8% and 5.4%, respectively. Germany (-30.6%) and the Netherlands (-11.7%) saw significant declines. From January to May, 556,276 new BEVs were registered, a 2% increase from the same period last year.

Plug-in hybrid car registrations dropped by 14.7% in May, with notable decreases in Belgium (-36.6%) and France (-19.4%). Germany saw a modest 1.7% increase, insufficient to counter the overall decline. Plug-in hybrids made up 6.5% of the total car market, with 59,333 units sold.

Despite the overall market decline, hybrid-electric vehicle registrations grew by 16.2% in May to over 272,568 units. France (+38.3%), Spain (+25.4%), and Italy (+7.4%) recorded strong gains, while Germany saw a slight decline of 0.7%. This growth increased the hybrid-electric market share to nearly 30%, up from 25% in May 2023.

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