E-Mobility at a Glance, Europe & Turkey

TR MONITOR

5 March 2024

E-Mobility at a Glance, Europe & Turkey. According to ACEA figures, in February 2024, the EU car market surged by 10.1% compared to the same period last year, reaching 883,608 units. Among the four major EU markets, France (+13%) and Italy (+12.8%) grew by double-digits, followed by Spain (+9.9%) and Germany (+5.4%).

In the first two months of this year, car registrations grew by 11.2% and increased to 1.7 million units. The major markets such as Germany (+11.8%), Italy (+11.7%), France (+11.2%), and Spain (+8.7%) recorded solid growth with high single-digit or double-digit gains.

New EU car registrations by power source

In February, battery-electric cars held a market share of 12% (stable compared to February 2023), while hybrid-electric cars captured nearly 29%. The total market share of gasoline and diesel cars was 48.4% in February 2024, down from 51.9% last year.

Electric cars in Europe

In February 2024, battery-electric car sales grew by a modest 9% to 106,187 units, maintaining a stable market share of 12%. Among the four largest markets, Belgium (+66.9%), France (+31.8%), and the Netherlands (+20.9%) saw significant double-digit gains, while registrations in Germany declined by 15.4%.

Sales of new hybrid-electric cars surged by 24.7%, driven by substantial growth in the four largest markets: France (+41.5%), Spain (+26.5%), Germany (+16.4%), and Italy (+16.1%),

Plug-in hybrid electric cars registrations across the EU also significantly increased by 11.6% and reached 64,351 units, driven by strong growth in key markets such as Germany (+22.3%), Belgium (+21.8%), and France (+11.8%). Plug-in hybrid electric cars now represent 7.3% of EU car sales.

Türkiye’s automotive industry maintained its first place with 3.13 billion dollars among the top exporting sectors,

According to Turkish Exporters Assembly (TIM) figures, automobile and light commercial vehicle sales increased by 40.6% with185,691 units In January-February 2024 period.

Automobile sales increased by 52.11% in January-February period of 2024 compared to last year with 146,318 units, and light commercial vehicle market expanded by 9.8% to 39,373 units.

Automobile and light commercial vehicle sales in February 2024 grew by 30.6% compared to last year reaching 105,990 units. In February 2024, automobile sales increased by 39.67% compared to the same month of the previous year, reaching 82,277 vehicles; and light commercial vehicle market also increased by 6.6% to 23,713 units.

Türkiye’s automobile market according to engine type in February 2024

According to Automotive Distributors’ and Mobility Association (ODMD) figures, electric and hybrid car sales are increasing in Türkiye.