European new plug-in car market stuck, according to the latest European Q1 2023 Electric Car Study
SUBSCRIPTION REQUIRED From the latest Q1 2023 EUROPEAN ELECTRIC CAR STUDY:
Healthy BEV volume gains unable to compensate for plug-in hybrid pains
- Plug-in penetration of the West European passenger car market remains stuck at 24.7% on a 12-month annualised rolling basis
- Second highest new BEV passenger car registrations on record - yet price-cuts (Tesla), forecast downgrades (UK) and slow BEV subsidy uptake (Netherlands) still offers signs of caution suggesting that a positive market is built on 2022 backorder foundations.
With 214,882 new BEV passenger car registrations recorded across the 18 market West European region in March according to the latest study's own data, it translated to the second-highest monthly BEV volumes month on record and a BEV new car market mix of 16.6% in a market that is seeing thick order books provide an initial healthy looking facade, where macroeconomic headwinds continue to batter it from behind...
More in-depth reporting in the full study published each month. The study now also features an in-depth look at the Chinese OEMs as their European expansion slowly begins. Are Chinese OEMs really a threat to the established European OEMs and what does the outlook look like?
May also interest you: VW Group flex muscles when it comes to common EV models while Tesla claims top BEV brand in W-Europe click here for the story
*Western Europe 18 Markets: EU Member States prior to the 2004 enlargement plus EFTA markets Norway, Switzerland, Iceland, plus UK