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BloombergNEF shares its 2024 Electric Vehicle Outlook

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The auto industry continues to shift toward electric vehicles (EVs), and while sales growth has slowed somewhat this year at many companies and in many markets, recent guidance shows that it may only be in the near-term. “Electric vehicles are no longer only a wealthy country phenomenon.

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June 2023 – Record market share for EVs in France

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Full electrics grew from 12.8% share, while plugin hybrids grew from 7.0% Overall auto volume was 190,847 units, up some 12% YoY, though still below long term norms, and with almost all the growth coming from plugins. June’s combined plugin result of 26.9% full electrics (BEVs), and 9.4%

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In December EVs took more than half of the German car market

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The tide has turned in the electrification of the German auto market, with plugin electric vehicles taking the majority of sales for the first time in December. Plugins took 55.4% of the month’s passenger auto sales, with full electrics taking a third (33.2%) and plugin hybrids taking over a fifth (22.2%).

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Tesla Model Y strengthens its position in Sweden

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Sweden’s plugin electric vehicles took almost 60% of the auto market in March, up from 55.6% Overall auto market volume was 30,261 units, up some 5% YoY, though still below historical seasonal norms. of all passenger auto sales! of all passenger auto sales! March’s combined plugin share of 59.9%

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Domestic Tesla Model Y dominates the German EV market

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Germany, Europe’s single largest auto market, saw plugin electric vehicles take 21.5% Full electric share grew, but plugin hybrid share almost halved. Overall auto volume was 206,210 units, up by some 3% YoY, but still some 18% down from pre-2020 seasonal norms. combined plugin result comprised 15.7%

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French EV market record high in March

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France saw record high plugin electric vehicle share in March, at 25.4%, up from 21.4% Overall auto volumes were 182,712 units, up some 24% year on year, though still well off the pre-2020 seasonal average (~230,000 units). The Tesla Model Y was the best selling BEV, and 4th highest selling auto overall. year on year.

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June 2023 – Tesla Model Y was the best selling car in Sweden

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Sweden’s June auto market saw plugin EVs take 59.2% Full electrics grew share at a decent rate, while plugin hybrids retreated slightly. Overall auto volume was 28,283 units, up some 9% YoY, though still below pre-2020 norms. full electrics (BEVs), and 20.5% plugin hybrids (PHEVs). share, up from 55.1%

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