Market Outlook Europe
The volume of new car registrations in the EU Top 7 markets has never been as low as now in the last few years. Currently we are counting 8 million registrations looking at the private market. And reaching the all-time high from 2019 with over 12,4 million registrations won’t happen.
But this doesn’t apply to the fleet market! While the fleet market has also crashed in the last three years, it is already recovering and will be out growing in 2024 with EVs being the driver of the growth.
EV-Uptake in Europe (Countries & sales channel in comparison)
Looking deeper into the development of fuel types and especially electric cars, it shows that BEVS were already above all fuel types besides petrol in the private market in 2022. Furthermore, BEVs were already higher than plug-in hybrids in the fleet market. In conclusion, it can be said that BEVs are leading the EV-train.
Taking a closer look into the regional markets, it shows that in the UK, BEVs are already the second leading fuel type in the fleet market, while in Scandinavia they are already leading!
Forecast in Europe (When will EV lead the market)
This trend will increase significantly in the future. According to Dataforce forecasts, in the entire European market EVs will be second, slightly behind petrol in 2027. If we look at individual countries, we can even see that EVs will dominate in France, Switzerland, and the UK as early as 2027.
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