Money Buzz! Europa

Tag: Hybrid cars

  • Germany overtook the US and is the world’s second largest market for electric cars

    Germany overtook the US and is the world’s second largest market for electric cars

    Germany saw last year a boom in sales of electric and hybrid cars, which analysts say is partly due to subsidies of up to 9,000 euros granted by the government, DPA reports.

    Sales of electric and hybrid cars in Germany increased by 264% annually, to 395,000 units.

    China remains the largest market for electric and hybrid cars, with 1.25 million units registered in 2020, or a third of the 3.18 million units sold last year in the world.

    But, last year, the Chinese electric car market grew by only 3% while the global market grew by 38%.

    Europe, including the European Union, the United Kingdom, Norway, Iceland and Switzerland, saw a 134% increase in electric and hybrid car registrations to 1.37 million units.

  • Landmark: 1 million full electric or hybrid vehicles sold in Europe in 2020

    Landmark: 1 million full electric or hybrid vehicles sold in Europe in 2020

    According to an Deloitte study, until November 2020, a landmark one million vehicle sold in Europe were either full electric or hybrid models, accounting for one in every 10 passenger cars sold on the continent.

    In fact, in Europe, in the first nine months of 2020, EV sales surpassed those in China for the first time in at least five years.

    In the UK, in September 2020, EV sales eclipsed diesel sales for the first time in history.

    This is a significant turning point in moving toward achieving 30%–40% electric vehicle (EV) sales volume by 2030.

    Of the 308 million motor vehicles on Europe’s roads today, just 3 million are electric. But the future potential is vast. EY analysis puts the estimated number of EVs at 40 million by 2030.

  • Austria surpassed 7 million registered motor vehicles mark

    Austria surpassed 7 million registered motor vehicles mark

    7.1 million motor vehicles were registered as of 31 December 2020 in Austria, 1.5% or 102,592 more than on the same date in the previous year.

    As Statistics Austria further reports, passenger cars accounted for the largest share of the motor vehicle stock (71.7%) and increased by 1.0% to 5.09 million vehicles.

    The number of diesel-powered passenger cars decreased by 0.4% to 2.76 million (2019: -0.1%).

    Furthermore, those with petrol engines (incl. flex-fuel) increased by 0.7% to around 2.20 million (2019: +1.9%).

    Electric passenger cars recorded an increase of 50.8% (2019: +41.7%) to 44 507 vehicles.

    Passenger cars with combined drive systems (hybrid) increased (petrol/electric: +51.1%; diesel/electric: +133.0%).

    In 2020, VW dominated the Austrian streets again with 1,033,770 passenger cars (share: 20.3% of all registered passenger cars).

    German car makers complete top 3, as VW is followed by Audi with 385,372 passenger cars (share: 7.6%) and BMW with 317,582 passenger cars (share: 6.2%).

  • 11.9% of total passenger car sales across the EU last year were hybrid electric vehicles

    11.9% of total passenger car sales across the EU last year were hybrid electric vehicles

    In 2020, hybrid electric vehicles made up 11.9% of total passenger car sales across the EU, up from 5.7% in 2019, ACEA reports.

    Electrically-chargeable vehicles saw a similar surge in demand last year, accounting for 10.5% of all new car registrations in the European Union, compared to a 3.0% market share the year before.

    Even more, in the fourth quarter of 2020, nearly one in six passenger cars registered in the European Union was an electrically-chargeable vehicle (16.5%).

    Stimulus packages introduced by governments to boost demand to stimulate alternatively-powered vehicles in particular, further driving demand for low and zero-emission cars.

    Although the overall decline of 3 million units in car registrations as a result of COVID-19 hit diesel and petrol-powered vehicles the hardest, conventional fuel types still dominated EU car sales in terms of market share (75.5%) in 2020.

  • Norway keeps its leading position in the electric vehicle market

    Norway keeps its leading position in the electric vehicle market

    Electric vehicles sales in Norway surpassed those of hybrid vehicles last year, and Volkswagen has replaced Tesla in the top manufacturers of battery-powered cars sold in the country, Reuters reports.

    Last year, 54.3% of new cars sold in Norway were fully electric, a world record, compared to 42.4% in 2019 and about 1% a decade ago.

    Even more, in December, electric cars accounted for 66.7% of total new car registrations, the highest level in a single month.

    In addition to tax exemptions for electric cars, their owners also benefit from other facilities such as reduced tolls, free parking and in many places free charging.

    However, the challenge is the small number of fast charging stations to keep up with the rapid growth of the electric vehicle fleet.

  • Denmark aims to get at least 775,000 electric and hybrid cars on the roads by 2030

    Denmark aims to get at least 775,000 electric and hybrid cars on the roads by 2030

    Denmark aims to get at least 775,000 electric and hybrid cars on the country’s roads by 2030, Reuters reports.

    There are currently only about 20,000 electric cars in Denmark, a fraction of the 2.7 million cars currently on the country’s roads.

    Copenhagen has set an ambitious target of decreasing greenhouse gas emissions by 70% by 2030.

    The plan, for which the government will set aside 2.5 billion Danish kroner ($ 407.62 million), will be revised in 2025, when new measures will be taken to reach one million zero-emission cars in Denmark until 2030.

  • EU new cars market: Hybrids at a 12.4% market share in Q3 2020

    EU new cars market: Hybrids at a 12.4% market share in Q3 2020

    In the third quarter of 2020, almost one in 10 passenger cars sold in the EU was an electrically-chargeable vehicle (9.9%), compared to 3.0% during the same period last year.

    During the third quarter, cars powered by conventional internal combustion engines lost further ground, with their overall market share going down from 88.6% in July-September 2019 to 75.4% this year.

    Diesel cars accounted for 27.8% of total passenger car sales in the European Union, with registrations falling by 13.7% to 766,146 units.

    Petrol sales posted an even stronger drop (-24.3%), going from over 1.7 million units last year to 1.3 million units in the third quarter of 2020.

    This represents a market share of 47.5%, with petrol going below the mark of 50% for the first time since 2016.

    With the exception of Cyprus, all EU markets saw declines in demand for petrol cars during the three-month period, including the four major markets.

    From July to September 2020, registrations of electrically-chargeable vehicles (ECV) more than tripled (+211.6%) to reach 273,809 units and a market share of 9.9%.

    This strong growth is mainly due to the introduction of incentives by national governments, seeking to boost demand in response to the corona crisis, which has been largely to the benefit of buyers of battery and plug-in electric cars.

    As a result, demand for plug-in hybrids (PHEV) boomed (+368.1%) during the third quarter, going from 29,557 units last year to 138,348 new cars sold in 2020. Both Germany and France recorded percentage increases of over 400% each.

    Growth in registrations of battery electric vehicles (BEV) was also strong across the European Union (+132.3%), totalling 135,461 units over the three-month period.

    Hybrid electric vehicles (HEV) remained the bestselling alternatively-powered vehicle type in the EU, posting an increase of 88.8% in the third quarter of the year.

    In total, 341,092 hybrid electric cars were sold from July to September 2020, representing 12.4% of the EU car market.