According to data for 26 European markets, new car registrations slowed once again in August, with a decline of 18% to 713,714 units.
This marks the lowest recorded volume in August since 2014. Last month’s decline did not however offset the growth registered during the second quarter of the year. Year-to-date volume remains higher than last year, with 8,095,419 registered units compared with 7,192,839 registered between January and August in 2020.
Despite these challenges, the performance of electric vehicles and plug-in hybrid cars continues to grow. A sharp uptick in demand last month saw these vehicles post their second highest ever monthly market share at 21%.
The 151,737 units registered last month marks a year-on-year increase of 61% and takes total volume since January to 1.32 million units. Munoz continued, “Although deals and incentives have played a significant part in boosting demand, we have seen a fundamental shift in buying habits as more appealing models have entered the market and consumers have become aware of the benefits attached to EVs.”
In August, EVs and plug-in hybrids outsold their diesel counterparts. This time last year, the volume of EVs was 158,300 units less than diesel car registrations, however last month we saw these EVs outsell diesel vehicles by 10,100 units.
Demand was particularly strong for the electric versions of the Fiat 500, Peugeot 208, Hyundai Kona, Opel Corsa and Kia Niro, in addition to the outstanding results of the Volkswagen ID.3 – Europe’s top-selling EV during the month.