Electric Cars Take Over Europe: EV Sales Continue to Soar in 2022

    The automobile industry is undergoing a significant transformation, with the rise of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) challenging the dominance of traditional gasoline-powered vehicles. In this article, we will explore the latest trends in the European automobile market, focusing on the sales and market share of EVs and PHEVs, as well as the impact of government policies on the industry.

     According to the European Automobile Manufacturers’ Association (ACEA), electric vehicle sales in Europe have been steadily increasing in recent years. In 2021, battery-electric vehicles (BEVs) accounted for 10% of all new car registrations in the EU, while plug-in hybrid electric vehicles (PHEVs) accounted for an additional 9%. This represents a significant increase from 2020 when BEVs accounted for 7% of new car registrations and PHEVs accounted for 8%.

Global New car Registrations in 2019 and 2020. Source: [1]

     The growth of EVs and PHEVs is being driven by several factors, including government incentives, concerns about air pollution and climate change, and the increasing availability of charging infrastructure. However, some challenges need to be addressed, such as the high cost of EVs and the limited range of some models.

NEW CARS BY EMISSIONS CLASSES IN THE EU. Source: [2]

     In 2021, Norway was the country with the highest market share of EVs, with 86% of new car registrations being electric. Sweden and Denmark were also among the top performers, with EV market shares of 46% and 42%, respectively. Germany, the largest car market in Europe, had an EV market share of 9% in 2021.

     The market share of PHEVs is also growing but at a slower pace than EVs. In 2021, PHEVs accounted for 15% of new car registrations in Norway, 11% in Sweden, and 8% in Denmark. Germany had a PHEV market share of 13% in 2021. 

     Government policies have played a significant role in the growth of the EV market in Europe. Many governments have implemented incentives, such as tax breaks and subsidies, to encourage the purchase of EVs and PHEVs. They have also set ambitious targets for the electrification of their vehicle fleets.

     For example, the European Union has set a target of achieving a 35% market share for EVs by 2030. The EU has also introduced a carbon dioxide emissions trading system (ETS), which aims to reduce greenhouse gas emissions from the transportation sector.

    Despite the growth in EV sales, there are still some challenges that need to be addressed. One challenge is the high cost of EVs. EVs are typically more expensive than gasoline-powered cars, and this can be a barrier for some consumers. Another challenge is the limited availability of charging infrastructure. There are still not enough public charging stations in many parts of Europe, and this can be a deterrent for people who are considering buying an EV.

     However, there are also some opportunities for the growth of the EV market in Europe. As battery technology improves and costs come down, EVs will become more affordable. And as more charging stations are built, the range anxiety that some people have about EVs will be reduced.

    The automobile industry is at a crossroads, with the rise of EVs and PHEVs challenging the dominance of traditional gasoline-powered vehicles. The European market is leading the way in this transition, with EV sales growing rapidly and government policies playing a key role. There are still some challenges that need to be addressed, such as the high cost of EVs and the limited availability of charging infrastructure. However, the opportunities for the growth of the EV market are significant, and we can expect to see even more progress in the years to come.

The above article is written by the study of material and resources for the period of 2019 to 2022 and my opinion therefore is basis various facts, figures, and measures if taken right by various institutions.

Source:

[1]:Henk Bekkler, May,2022,” 2022 (Q1) Europe: Electric and Plug-In Hybrid Car Sales per EU, UK, and EFTA Country”, Available at: https://www.best-selling-cars.com/electric/2022-q1-europe-electric-and-plug-in-hybrid-car-sales-per-eu-uk-and-efta-country/

[2]:Acea, March 2022,” The Automobile Industry, Pocket guide 2021/2022”, Available at: https://www.acea.auto/files/ACEA_Pocket_Guide_2021-2022.pdf#page=20