Electric Car Market Expansion: Growing Popularity and Market Leaders

Everything indicates that the electric car market will continue to expand

The market for electric cars continues to expand, and this trend is especially strong in Western Europe. “In countries such as Germany, France and the United Kingdom, new electric cars make up a sixth or even a fifth of the new car market. Compared to their internal combustion counterparts, electric cars are still more expensive, so they are less common in Eastern Europe, where the ability to pay is lower,” explains Delfi Auto editor Raymond Zandowski.

Data from “The Wall Street Journal” confirm this. The publication writes that last year, compared to 2021, sales of electric cars in the world increased by 68% and reached 7.8 million copies. In Europe alone, almost 14 out of 100 new cars registered last year were fully electric.

Interestingly, the gap between all-electric models and plug-in hybrids widened in 2022: plug-in hybrid sales declined, while all-electric cars accounted for around 60% of all electrified vehicle sales in Europe.

Market leaders are becoming even more popular

Among the manufacturers that can boast of good sales figures in Europe, the first place is taken by the Volkswagen group, which owns several electric car brands. The second place is Tesla, and the third is the “Stellantis” group, which also represents several brands under one banner. The “Hyundai-Kia” group ranks fourth, with a 15% increase in sales compared to 2021. From the top ten, this group stood out with the greatest growth in the plug-in hybrid market share – its sales increased by as much as 38 percent.

2023-09-08 08:26:00
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