Europe Slows Down on Electric Cars: Sales Drop in March

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Volvo EX30
Volvo EX30

Electric car sales in Europe hit a bit of a snag in March compared to last year. Sales dropped about 8%, but that’s because March 2023 was a particularly strong month. The first quarter of 2024 still shows a 5% increase in electric car sales compared to the same period in 2023.

Here’s a breakdown of the numbers:

Almost 300,000 new electric cars were registered in Europe in March, making up about 21% of the total car market (which is down a bit from 23% last year).

Fully electric cars (BEVs) account for about 14% of the market, while plug-in hybrids (PHEVs) make up 7%. Interestingly, sales of regular hybrids (HEVs) that don’t plug in actually went up 20%!

Data Representing Electric car registrations across Europe from Jan 2023 to March 2024 

Looking at the first quarter of 2024, over 700,000 electric cars were registered, which is still a healthy 21% of the total car market share.

As for specific models, the Tesla Model Y remains the best-selling electric car in Europe, but its sales are down slightly compared to last year. The Tesla Model 3 is still popular, too, but the real story of March was the all-new Volvo EX30. This new electric car rocketed to third place in sales!

Nathan Henderson

By Nathan Henderson

Its my hobby to know about Cars as well as Bikes and let people know too. With help of Daxstreet I am able to connect with you all ^^

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