Demand for Electric Vehicles Is Rising in Europe
As electric vehicle sales nearly doubled in France and Germany, fully electric and plug-in hybrid cars accounted for 43% of total sales.
According to the European Automobile Manufacturers’ Association (ACEA), new car registrations in Europe rose by 10% year-on-year to 1.36 million in September. This marked the eighth consecutive month of growth in sales.
As electric vehicle sales nearly doubled in France and Germany, fully electric and plug-in hybrid cars accounted for 43% of total sales, up from 32% in the same period last year.
Rising fuel prices linked to the conflict in the Middle East are increasing interest in electric vehicles. Government incentives in France and Germany are also helping to partially offset the high prices of these vehicles.
According to Bloomberg Intelligence, registrations of Chinese car brands in Europe have more than doubled this year. Chinese manufacturers are expected to account for a significant share of the growth in the European market.
In September, Tesla continued its upward trend, increasing deliveries by 73%. Among Chinese manufacturers, Chery recorded the strongest growth. Its sales nearly tripled, while its share of the European market doubled to reach 3.9%.