In the first half of 2023, the European car market experienced significant growth, increasing by nearly 18 percent. In June alone, sales of electric vehicles surpassed those of diesel cars.
In June 2023, the EU’s car market grew by 17.8 percent, with new registrations exceeding one million vehicles for the month. This positive trend indicates a recovery in the market following the COVID-19 pandemic and the significant component shortages it caused. The increase in car sales was widespread across nearly all European countries, with the four major markets showing impressive growth rates in June: Germany saw a remarkable 24.8 percent increase, followed by Spain with 13.3 percent, France with 11.5 percent, and Italy with 9.1 percent.
The growth in June was promising in relation to the half-year results. In the first half of 2023, car registrations in the EU rose by 17.9 percent, clearly indicating an improvement in the market compared to 2022. The European automotive industry has faced challenges due to component shortages caused by the pandemic, which hindered the production and delivery of vehicles to consumers. This sales improvement was felt in most European countries and across the four primary markets in the EU. Spain experienced the largest growth over the first six months of 2023, with a market increase of 24 percent. The other major markets also reported double-digit growth, with Italy at 22.8 percent, France at 15.3 percent, and Germany at 12.8 percent.
“It’s encouraging to see that manufacturers are better managing the challenges posed by component shortages. It has been a significant obstacle for a market with strong demand,” says Mads Rørvig, Managing Director of the Danish Car Importers.
In June 2023, electric vehicle sales surged by 66.2 percent compared to the same month the previous year. This growth resulted in a market share increase of 4.4 percentage points, bringing electric vehicles to 15.1 percent of the market, making them the third most popular powertrain. Consequently, electric vehicles have overtaken diesel cars in terms of market share. Over the first six months of the year, more than 700,000 electric vehicles were registered, reflecting a substantial 53.8 percent growth in sales.
Hybrid vehicle sales in the EU also rose by 32.4 percent in June. For the first half of 2023, sales increased by 27.9 percent compared to the same period in 2022, giving hybrids a market share of 25 percent, making them the second most popular powertrain. In contrast to trends seen in Denmark, plug-in hybrid vehicles experienced growth in the EU in June, with a market increase of 13.4 percent. Despite this growth, the market share for plug-in hybrids fell by 0.3 percent to 7.9 percent.
In June, the market for gasoline cars grew by 11 percent in the EU. Over the first half of 2023, more than 2 million gasoline cars were sold, marking a percentage increase of 15.9 percent. However, despite the growth in registrations, the market share for gasoline cars declined by 2.2 percentage points to 36.3 percent. In contrast, diesel vehicle sales decreased, with a drop of 9.4 percent affecting their market share as well. By the end of June, diesel cars accounted for a market share of 13.4 percent, down by 4 percentage points.
“It’s an anticipated development for electric vehicles to capture an increasingly larger portion of the market. This is happening at a rapid pace, and it’s no secret that Denmark is one of the frontrunners among EU countries. We need certainty regarding taxes if we wish to maintain this position,” says Mads Rørvig, Managing Director of the Danish Car Importers.
https://www.bilsektionen.dk/bilsalget-vokser-betrageteligt-og-bliver-groennere-i-eu/
