EU car market sees rise of electric, hybrid vehicle

The European Union (EU) had 10.7 million new car registrations in 2023, according to latest data by the bloc’s statistical office, Eurostat.

Petrol cars had a 34.5 per cent market share, while hybrid and electric vehicles combined for 48.3 per cent, almost matching petrol and diesel cars at 48.8 per cent.

Battery-electric cars accounted for 14.5 per cent of new registrations in 2023, demonstrating significant growth in recent years. This trend suggests a shift towards electric vehicles as consumers embrace sustainable transportation options.

In 2023, nine EU countries saw hybrid and electric passenger cars account for more than half of new vehicle registrations. Finland led the way with a remarkable 78 per cent share, comprising 44 per cent hybrids and 34 per cent electric vehicles. Sweden followed at 69 per cent , with 30 per cent hybrid and 39 per cent electric, while the Netherlands reported 68 per cent , with 37 per cent hybrids and 31 per cent electric vehicles.

Attribution: Eurostat report

Subediting: Y.Yasser