Electric vehicles (EVs) posted a record market share of new car registrations in Europe in January, accounting for 13.3% of all vehicles sold.
This is according to the latest figures from JATO Dynamics, which revealed a 72% year-on-year increase in EV registrations. The rise was attributed to increased incentives for consumers, greater awareness of EV benefits and the growing concern around diesel and petrol vehicles.
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EVs accounted for 77% of total car registrations in Norway, 38% in Sweden and 28% in Finland. Among the big markets, EVs counted for almost 19% in France, 14% in the UK, 12% in Spain, 10% in Germany and 8% in Italy.
By brand, EVs represented an important part of the volume registered by Smart (96%), Lexus and Toyota (95% and 66% respectively), DS (42%), Suzuki (41%) and Land Rover (37%). In contrast to this, they made up a significantly smaller proportion of the volume by registered by Citroen (1.4%), Seat (1.4%), Ford (3.3%), Opel (3.9%), Skoda (4%) and Volkswagen (5%).
Total registrations across Europe dropped 7.6% when compared with January 2019. Despite the decline, registrations ranked as the fourth best January in the last decade. JATO attributed the steep decline this year to the last minute purchases made in December, due to the impending introduction of the new CO2 emissions regulations.
Felipe Munoz, global analyst at JATO Dynamics, said: “The European market is still showing signs of strength despite a tough environment. We believe that the market is capable of adapting to meet new regulations and impending challenges.
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By GlobalData“This is exemplified by the increase in EV registrations, which was a lifeline for many OEMs in January. Only two years ago not many in the industry would have predicted such high levels of demand for EVs.”
