Thought Leadership
The European market for electric vehicles continues to shrink.
According to a market analysis by the consulting firm EY, the number of newly registered electric cars fell by eleven percent across the EU in July compared to the same month last year. Declining sales figures were recorded in as many as twelve countries – including Austria, where the drop was twelve percent.
E-market seems saturated
According to the latest figures, the EU-wide market share of e-cars has shrunk from 13.4 to 12.1 percent, in Austria from 18.9 to 15.5 percent. Twelve of the 27 EU countries reported a declining market share for e-vehicles – according to EY mobility expert Axel Preiss, the market appears to be more than saturated.
“Electric cars are currently losing market share in many EU countries. In addition to the loss of subsidies in some countries, customer interest is also limited. The early adopters already have an e-car, but the vast majority are still waiting. The recent discussions about banning combustion engines from 2035 are also causing uncertainty,” says Preiss.
Conveyor stop in Germany
According to the industry expert, the persistently high price of electric cars is a particular problem. Sales in countries with high state subsidies are developing positively. In Germany, the abolition of subsidies had a direct negative impact, as pressetext reported. According to Preiss, the car market is currently experiencing a renaissance of combustion engines.
High electric market shares can currently be found in Northern Europe and the Benelux countries in particular. In as many as 15 EU countries, the electric market share was below ten percent in July. The market share of electric cars is particularly low in Eastern and South-Eastern European countries. Here, the market share in July was 4.3%, the same as in the same month last year.
Electric cars are popular in the Scandinavian countries. Overall, the market share in the three Scandinavian EU countries rose from 33% to 39% year-on-year. Denmark had the highest market share of electric cars in the EU in July with 52%. With an electric market share of 15.5% in July, Austria was in the upper midfield in an EU comparison.
(ds/press release)
