The electric car market in the European Union is experiencing a significant boom, with unprecedented growth and record-breaking sales. In contrast, diesel and gasoline vehicles have witnessed a noticeable decline in registrations in the fourth quarter of 2020. The Association of European Automobile Manufacturers (ACEA) has reported that electric vehicle (EV) sales in the European Union skyrocketed by an impressive 262.8% during the fourth quarter, reaching nearly half a million registrations. This extraordinary surge is paralleled by the hybrid vehicle sector, which saw a growth rate of 104.7% and sold 435,260 cars in the same period.
The remarkable transformation of the market is not limited to the final quarter but can be observed throughout the year, as detailed by the ACEA’s data. In 2020, EVs experienced an astounding triple-digit growth of 169.7%, while hybrid vehicle sales increased by a noteworthy 59.4%. Consequently, electric and hybrid cars are gradually securing a larger market share compared to their diesel and gasoline counterparts. In 2019, these eco-friendly vehicles accounted for 8.7% of the market, a figure that nearly tripled in the following year, reaching an impressive 22.4%. Nevertheless, diesel and gasoline cars still dominate the market, comprising 75.5% of total sector sales.
The top-selling electric cars in the European Union have been identified as the Volkswagen ID.3, Tesla Model 3, and Renault Zoe. These vehicles have gained popularity among consumers, contributing to the growing success of the electric car market in Europe.
Sources:
1. [ACEA Report on Electric and Hybrid Vehicle Sales]()
