The first quarter of 2024 ended up with a total of 332,999 new electric cars registered in Europe, representing a year-on-year increase of 3.8%. Growth which can largely be put down to increasingly strict environmental regulations and tax and other incentives that encourage sustainable practices.
Although the adoption of electric vehicles is increasing, the rate of this transition varies between countries, influenced by factors such as the economy, the charging infrastructure and the level of environmental awareness.
Progress towards electric mobility in Europe
Each European country is moving towards sustainable mobility at its own pace. Norway, for example, estimates that by 2025 there will be more electric than combustion vehicles on its roads. In January 2024, electric cars accounted for 90% of new registrations in the country, a total of 4,717 units. In March, there were 16,811 new electric cars sold in the Nordic country, making up a total of 48,691 units sold in the first quarter of 2024.
In the United Kingdom, electric vehicles are gaining ground with a 15.6% share of the total vehicles sold in the quarter, no less than 545,548 units. This represents an increase of 10.38% compared to the same quarter of 2023. Germany, in turn, is also committed to sustainable mobility, with a 13% share for 100% electric vehicles, although hybrid sales are still higher (29%). The sale of electric vehicles in this country increased by 4.2% compared to the same period of the previous year.
France has registered constant growth in the electric vehicle market, representing 18.9% of new registrations, which represents an increase of 11% compared to the same quarter of the previous year. In Spain, although growth is slower, there is also a 1% increase in sales of electric vehicles, with 36,000 units sold and 11% of total sales. The growth percentage is slightly higher in hybrid vehicles, 6.3% up on the same period of the previous year.
Forecasts for sustainable mobility at a global level
The International Energy Agency predicts that one in five cars sold in the world in 2024 will be electric. What’s more, a significant transformation is expected in the global automobile industry, considerably reducing the consumption of fossil fuels in road transport.
The Agency’s report also indicates that global sales of electric vehicles increased by 25% in the first quarter of 2024 compared to the same period in 2023. This means that the number of electric vehicles sold in the first three months of 2024 equals total sales for the entire year of 2020.
By 2035, it is projected that one in two cars sold in the world will be electric, if current policies are maintained. This could reduce usage by around 12 million barrels of oil per day.
What will the success of the transition to electric mobility depend on?
The success of the transition to sustainable mobility will depend mainly on infrastructure, legislation and affordability. Whilst in 2023 in China 60% of electric vehicles were cheaper than their combustion equivalents, in Europe and the United States internal combustion vehicles are still cheaper. However, the increasing competition on the market, the improvement in battery technologies and new policies and incentives are reducing this price difference.
Basically, the future outlook is very much headed towards electric mobility, backed up by sustainable policies and careful planning.
