The Strategist

European sales of electric cars jump by 42% in 2018

08/29/2018 - 15:53

Sales of electric vehicles and hybrid models in Europe jumped by 42%in the first half of the year compared to the same period last year, breaking the 1 million record. At the same time, their share in the European market of cars was just 2%. This is reported by with reference to the data collected by EV-Volumes.

Albert Bridge
Albert Bridge
Sales of electric cars and hybrid cars in Europe amounted to 195 thousand units in the first half of the year.

EV-Volumes expects that in the whole of 2018, sales in Europe will reach 430 thousand units, while the market share of electric cars and hybrid cars will amount to 2.35%.

The number of electric vehicles and hybrid models sold in Europe has already exceeded 1 million and is expected to reach 1.35 million at the end of this year.

Norway remains the leader among European countries in sales of such cars. Their share in the total volume of sales of cars in the country this year was 37%.

At the same time there is a rapid growth in sales in Germany. According to the forecasts of EV-Volumes, by the end of 2018 Germany will become the leader in terms of sales in Europe due to the large size of the car market in the country.

"With the exception of Denmark, where the market was embarrassed by incomprehensible plans for taxing green cars, the Nordic countries are leading in the distribution of electric cars," EV-Volumes reported.

According to the consulting company Facts Global Energy (FGE), the number of cars in the world will grow to 1.8 billion by 2040, but only 10% of them will be equipped with electric motors, and another 20% - by hybrid engines.

The transition to electric vehicles requires substantial state support. The Norwegian government introduced benefits, thanks to which consumers can receive electric cars almost for free. Thanks to this, the country has become the world leader in the number of electric vehicles per capita. But without state subsidies, the demand for environmentally friendly equipment will decrease. An example of this is Denmark, where sales of electric cars fell by 80% after abolition of subsidies in 2016.

A significant reduction in prices is required for such a jump, which is not yet possible, since the production of electric cars requires considerable expenditure.