Electric Vehicle Sales Review Q1-2024
France, Germany, Italy, Spain, and UK
BEV sales in the top 5 European markets grew by 1.6% in first quarter of 2024 when compared with the same period last year. Looking beneath this headline figure, we see very different performances in the constituent countries. BEV sales grew in France and the UK by 23.0% and 10.6% respectively, but fell in Germany, Spain and Italy by 14.1%, 16.4% and 18.5% respectively.
Prior to this quarter, trends in France, Germany and the UK were broadly following a similar trajectory. However, the market shares in Q1 revealed a significant gap – 17.9% in France and 15.5% in the UK, but only 11.7% in Germany. Indeed, for the first time, the UK overtook Germany in the absolute number of BEV sales (84,000 vs. 81,000 in Q1 2024).
Other European markets
The only significant BEV sales growth in the other European markets in the first quarter of 2024 was registered in the Netherlands, which saw an increase of 19.3% from the same period last year. BEV sales in Sweden, Norway and Austria all fell, while Switzerland enjoyed only a marginal increase.
