The rise of hybrid cars over petrol vehicles highlights a pivotal moment in the transition towards greener automotive technologies in Europe.
The automotive industry's slow shift to electric vehicles raises concerns about meeting future emissions targets, especially as manufacturers face potential financial penalties.
As hybrid vehicles gain market share, manufacturers may increasingly focus on developing and marketing hybrid models to meet consumer demand while navigating the transition to fully electric vehicles.
The European market for electric vehicles may see renewed efforts from manufacturers to enhance affordability and accessibility, aiming to boost sales and comply with regulatory requirements.
Hybrid car sales in Europe reached 32.8% of the market in September 2024, surpassing petrol cars at 29.8%, according to the European Automobile Manufacturers' Association (ACEA). This marks a significant shift in the automotive market as hybrid vehicles, which combine a gasoline engine with a small non-plug-in electric battery, have become more popular, particularly in France and Spain, where sales increased by 12.5%.
Despite the rise in hybrid sales, electric car sales, while rebounding after months of decline, still lag behind expectations. Electric vehicles accounted for 17.3% of new car sales in September, up from 14.8% in the same month last year, but overall sales since January are 5.8% lower compared to the first nine months of 2023. The decline in diesel vehicle sales continues, with a drop of 23.5%, leaving diesel cars with only 10.4% market share.
ACEA's Director General, Sigrid de Vries, emphasized that the current figures indicate a need for consistent growth in the electric vehicle market to meet future targets. Many manufacturers face potential fines if they do not reduce CO2 emissions per vehicle by the end of 2024, which necessitates a shift towards more electric models. The overall European automotive market remains weak, with a year-on-year decline of 6.1%, particularly influenced by poor performances in Germany, France, and Italy.
