New car sales in the European Union climbed 14.6% in October, with a significant uptick in fully electric car sales contributing to the surge. Hybrid electric vehicles constituted nearly 30% of total vehicles sold in the economic bloc.
The European Automobile Manufacturers Association (ACEA) reported a 36.3% increase in fully electric car sales compared to the previous year, and full hybrid sales saw a notable uptick of almost 39%. This marked the EU's 15th consecutive month of sales growth, according to ACEA's announcement on Tuesday.
In October, fully electric cars represented 14.2% of total sales, surpassing diesel car sales for the third time. Diesel cars, which once comprised over 50% of EU car sales in 2015, dwindled to just 12% of sales in October.
Over the ten months leading to October, sales of fully electric cars experienced a substantial 53.1% increase. Electrified vehicles, including fully electric models, plug-in hybrids, and full hybrids, constituted over 47% of all new passenger car registrations in the EU from January to October 2023, up from 42% during the same period last year, as reported by ACEA.
Concerns about a potential plateau in electric vehicle (EV) sales have been raised by some automakers, analysts, and dealers, anticipating a slowdown after years of remarkable growth. In October, sales at Volkswagen, Europe's largest automaker, rose by 9.9%, while Stellantis and Renault recorded increases of 11.3% and 24.3%, respectively.
Tesla experienced a remarkable surge, with sales soaring by nearly 150%, constituting almost 12% of fully electric car sales in the EU.
Overall, new vehicle registrations in October across the EU, Britain, and the European Free Trade Association (EFTA) increased by 14.1% to reach 1.04 million units, according to ACEA.
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