European demand for electric cars appears to be waning. While total sales of new cars continue to rise towards pre-pandemic levels, the EV slice of the pie actually reduced in the first half of 2024.
New data from automotive analytics firm JATO Dynamics shows how the number of new car registrations grew by 4.4 per cent from 6.56 million units in the first half of 2023 to 6.85 million in the same period in 2024.
However, while this means the number of EVs sold has increased by two per cent to a total of 949,981 units, the market share of electric cars has dipped by 0.3 per cent to 13.9 per cent. While we are yet to see such dips for the UK market specifically, data from the Society of Motor Manufacturers and Traders shows that the share of EVs in the UK only grew by 0.5 per cent to 16.7 per cent in the
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