The EV market is showing rapid progress globally and Europe is no exception.
The European Union’s announcement of banning sales of all conventionally powered vehicles by 2035 has fueled the drive for the switch and this is why a larger number of new-vehicle buyers are now choosing an EV over an internal combustion engine (ICE) vehicle.
Further to that, the huge EV grants being offered by a large number of European governments have played a key role in the development of this segment and the results are now evident.
How Did The European EV Market Perform In 2021?
Overall the battery electric vehicle (BEV) market in Europe saw a year on year growth of 147% during the year 2021 and that’s why even during the first half of the year, a total of 336,000 BEVs were sold.
In addition to this, the Plug-In Hybrid Electric Vehicle (PHEV) segment also saw a huge increase in sales, rather the figures were mind-boggling with a 248% annual growth rate.
Which Countries Are European EV Market Leaders?
Breaking down overall European sales into the respective countries is useful because it allows us to examine the market’s overall dynamics.
Norway is leading the segment with a huge EV market share of 57.3%. This number is so huge that it dwarfs other European markets.
The EV market shares of even the most advanced European nations including Sweden, Austria, Germany, Netherlands and Switzerland are 12.6%, 11.4%, 10.7% and 9.9% respectively.
It is also worth noting that Germany is the leading country in the region as almost 44% of all BEV sales during the first half of the year 2021, in the five major European markets came solely from there.
Which EVs Are Most In-Demand?
The sales of conventionally powered vehicles vary from one country to another and even from one continent to another due to a large number of options available to customers.
However, the EV segment is special in that the sales of EVs are more or less identical regardless of which continent or region you pick.
Top Three Most Sold EVs In Europe
Tesla’s Model 3 is the world’s most sold EV and it has been this way for several years now. It also retains its ranks as the most sold electric vehicle in Europe. In 2021, a total of 141,429 units of the Model 3 were sold in Europe.
The second most sold EV during 2021 in Europe was the Renault ZOE. 71,614 units of this vehicle were sold in Europe during the last year.
VW ID.3 did comparatively well and stood at the third position with a sales figure of 69,206 units in 2021.
Where Is The EV Market Headed In Europe?
This brings us to the vital question regarding what does the future hold for the EV market in Europe.
Well, the results speak for themselves. The 64% year on year sales growth of the Tesla Model 3 in Europe and 23% growth of the ID.3 speak highly of the future that the EV segment has.
While EVs from a large number of automakers are still in the pipeline, those who have been the trailblazers are drawing the benefits by gargantuan year on year sales increments.
Now that the EV segment has proven its worth and shown that it is the way to go, more and more manufacturers are joining the bandwagon.
With major EV factories being set up in Europe, the future of the market seems promising this is why a large number of buyers are flocking in to adapt to the EV revolution.