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EV sales in EU drop 5.9% in 2024 after subsidy cuts

Sales of new electric vehicles (EVs) in the European Union fell by 5.9% to about 1.4 million units in 2024, marking the first decline on record, according to the European Automobile Manufacturers’ Association.

Germany saw the biggest drop, with a 27% decrease in EV sales following the end of a subsidy program in late 2023, while France experienced a more modest decline.

Despite this, total car sales in the EU increased by 0.8% to over 10 million units, driven by a nearly 21% rise in hybrid vehicle sales.

Analysts attribute the EV downturn to weaker demand and growing competition from Chinese manufacturers.

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