While electric cars on a global level are making some headway, sales of the car type are currently experiencing a setback, writes a consulting company in a new report.
While electrified cars are gaining ground globally, Europe is experiencing a decline in sales of electric cars.
A new report from the consulting company Strategy& shows that over 40% of the cars sold in the largest markets in the world are now electrified. This is a significant increase compared to the first quarter of 2023, when the share was below 30 percent.
China is one of the driving forces behind this development. Sales of plug-in hybrids have tripled in the country in just a year and a half. Europe, on the other hand, shows a different trend. In the ten largest European car markets, electric car sales fell by 14% in the third quarter compared to the same period last year.
The report highlights the Tesla Model Y as the best-selling electric car in the markets surveyed. The Model 3 takes second place in the US and four European countries. In China, however, it is the BYD Seagull that is the second most popular electric car.
The global increase in sales of electrified cars is due to several factors. Rising fuel prices, increased focus on the environment and climate, as well as improved technology and infrastructure all play a role.
READ ALSO: What electric car owners hate most about their cars
Europe's decline, on the other hand, can be attributed to various factors, including changes in subsidy schemes and uncertainty around charging infrastructure. For example, sales of new electric cars collapsed month after month between January and August this year. Read more about it here.
However, it is worth noting that electric cars still make up a relatively small share of total car sales in many countries. There is still a long way to go before electric cars can really replace petrol and diesel cars.
Read more exciting news from and about the world of cars right here!
