EU Electric and Hybrid Vehicle Market Updates in May

TapTechNews June 22nd news, on the 20th local time, the European Automobile Manufacturers Association released a report showing that the number of newly registered pure electric vehicles in the EU area in May this year was 114,300 units, a year-on-year decrease of 12%, and the market share dropped from 13.8% in the same period last year to 12.5%.

Meanwhile, hybrid vehicles continue to expand their market share, increasing from 25% to nearly 30%. The combined share of gasoline and diesel vehicles decreased from 52.1% to 48.5%, currently accounting for less than half of the market share.

Specifically, Belgium (currently the third-largest market for pure electric vehicles in the EU) and France are the only two major markets, with year-on-year increases of 44.8% and 5.4% respectively. In contrast, Germany (-30.6%) and the Netherlands (-11.7%) had significant drops last month.

From January to May this year, there were a total of 556,276 newly registered pure electric vehicles in the EU, a year-on-year increase of 2%.

Compared with pure electric vehicles, hybrid vehicles (TapTechNews note: hybrid with gasoline and electricity, cannot be charged) achieved an overall growth trend that month. The registered number of hybrid vehicles that month exceeded 272,568 units, a year-on-year increase of 16.2%. Three of the four largest markets in this segment - France (+38.3%), Spain (+25.4%) and Italy (+7.4%), all recorded solid growth, while Germany had a slight decrease of 0.7%. This growth has increased the market share of hybrid vehicles from 25% in May 2023 to nearly 30%.

In terms of plug-in hybrid vehicles, the share of this category of models accounted for 6.5% of the entire car market that month, and 59,333 units were sold, a year-on-year decrease of 14.7%. The two largest markets had significant drops: Belgium (-36.6%) and France (-19.4%). Germany achieved only a small 1.7% increase, which was not enough to offset the overall downward trend.