Finally the end of the tunnel for electric car sales? In any case, in October 2024, they will start to rise again after several weeks of decline. For their part, hybrid vehicles are currently in high demand.
Electric cars are selling again
Despite an increase of +2.4% in registrations in Europe in October 2024, thehe sales of new electric cars are struggling to convince in several large markets such as Germany, France and Italy. In these countries, the high cost of electric models, combined with an insufficient charging network, is slowing their adoption by consumers. Conversely, countries like the Netherlands and Belgium maintain their lead. Furthermore, the United Kingdom recorded an impressive increase of +24.5% in electric registrations in October 2024. Despite everything, the results are rather positive after several complicated weeks.
On a global level, October sales hit record, with 1.7 million electric cars sold, two-thirds of them in Chinaaccording to specialized firms. However, in Europe, Tesla saw its sales fall by 21%, as a result of reduced subsidies.
Hybrids are a hit
Overall, the new vehicle market in Europe shows a slight improvement in October 2024, with an increase of 1.1% in registrations, according to the Association of European Automobile Manufacturers (ACEA). Hybrid models dominate this recovery, growing by +17.5% in one year, and establishing themselves as the best-selling engine for the second consecutive month. With a third of market share, hybrids now outperform gasoline and diesel vehicles, down -6.8% and -7.6% respectively.
Manufacturers like Toyota and Renault are taking advantage of this favorable dynamic, thanks to popular hybrid models. These vehicles, which combine a combustion engine and an electric motor, are attractive with their compromise between performance and economy. Despite these positive signals, the European market remains at a historically low level in 2024with only 8.9 million cars registered since the start of the year (+0.7% over one year).
