The electric market share weakened in October 2023, but this is enough to overtake diesel for the whole year.
The figures from the European Automobile Manufacturers Association (ACEA) for the month of October 2023 have been released. Vehicle sales in general are doing well, and 100% electric cars are experiencing mixed results.
Electricity stronger than diesel in 2023
Electric vehicles accounted for 14.2% of total sales last month, compared to 12% in the same period last year. Since the start of the year, the share of electric has risen to 14%, exceeding for the first time that of diesel (13.9%). The diesel segment confirms its decline in Europe, and even experienced a spectacular decline in October in two major markets: France (-29.4%) and Spain (-20.2%).
If electric was able to catch up with diesel so quickly, it is above all the consequence of the fall in diesel sales, more than of the excellent health of 100% battery electric. Although we can see a nice increase of 36.3% from one year to the next in volume, autumn is proving more complicated than summer for the electrical sector, which is seeing its market share decrease from 21% in August 2023 to 14.2% in October 2023.
This is notably due to a decline in sales in Germany, the largest European market for battery electric cars. Belgium (+ 147.3%) and Denmark (+ 100.7%) are experiencing spectacular growth, but do not have enough influence at the continental level to raise the figures.
On the way to 10 million annual sales
ACEA has announced nearly nine million new car registrations since the start of the year, an increase of 16.7%. Counting October, we are in the fifteenth consecutive month of growth for a sector which is gradually recovering from the consequences of the pandemic. Italy (+20.4%), Spain (+18.5%), France (+16.5%) and Germany (+13.5%) still constitute the four main markets.
From January to October 2023, here is how sales of new vehicles are distributed within the European Union:
- Gasoline: 35.9%
- Hybrid: 25.5%
- Electric: 14%
- Diesel: 13.9%
- Plug-in hybrid: 7.6%
Source : Association of European Automobile Manufacturers
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