In the first six months of the year, the number of BEVs sold across the EU grew by just 1,3% compared to the same period in 2023. This slow growth is primarily due to a substantial 16,4% decline in Germany’s BEV sales, attributed to the sudden removal of purchase subsidies. When Germany is excluded from the calculations, the rest of the EU experienced a robust 9,4% increase in BEV sales.
T&E highlighted the crucial role of a stable and supportive regulatory environment in fostering market growth. They pointed to Belgium’s company car policy as a successful example. This policy offers attractive depreciation rates for electric vehicles while phasing out depreciation for combustion engines, leading to a remarkable 48% increase in BEV sales in Belgium during the first half of 2024.
Lucien Mathieu, the cars director at T&E, emphasised the detrimental impact of Germany’s policy changes. “Germany is the sick man of Europe when it comes to electric cars. Meanwhile, markets which have strong, predictable incentives for EV adoption are reaping the rewards. Germany’s CDU lawmakers in Brussels should stop trying to weaken the EU’s 2035 target and instead actually promote electric vehicles,” Mathieu stated.
The analysis also noted significant growth in other EU markets with supportive regulatory frameworks:
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- France: The introduction of a social leasing scheme for low-income households spurred a 14,9% increase in BEV sales in the first half of 2024.
- Italy: New EV incentives launched in June 2024 helped boost BEV sales by 7,0% over the same period.
- Belgium: Driven by the company car segment, BEV sales soared by 47,8% in the first half of the year.
- United Kingdom: The Zero Emission Vehicle (ZEV) mandate led to a 9,2% increase in BEV sales in H1 2024.
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Despite these gains, the overall market share of BEVs in the EU slightly decreased to 12,5% in H1 2024, down from 12,9% in H1 2023. Excluding Germany, however, the BEV market share rose to 12,5%, up from 12,0% the previous year.
T&E’s analysis underscores the importance of consistent and encouraging policies for the adoption of electric vehicles. As Germany navigates its regulatory environment, other EU countries continue to demonstrate the benefits of robust support for the electric vehicle market.
Source: Transport & Environment
