Over a fifth of cars sold in EU in August were EVs

Over a fifth of cars sold in EU in August were EVs

In August, slightly over 20% of all new cars purchased in the European Union were fully electric, with the sales of zero-emission vehicles more than doubling, according to data released by the European Automobile Manufacturers Association (ACEA) on Wednesday.

Electric vehicles accounted for 21% of EU car sales during the month, marking the first instance where they constituted more than a fifth of total sales. Over the initial eight months of 2023, close to 1 million fully-electric vehicles found buyers in the EU.

Internal combustion engine models represented less than half of all car sales. Plug-in hybrids, which include both an engine and a rechargeable battery, constituted 7.4% of the sales, while full hybrids, featuring a larger battery charged by the engine and not a plug, accounted for 23.9% of sales.

Diesel-powered vehicles made up only 12.5% of the sales, a stark contrast from 2015 when they represented more than 50% of new car sales.

Volkswagen (ETR:VOWG_p), the leading car manufacturer in Europe, reported a notable 21.2% increase in sales for August, according to the ACEA. Stellantis (NYSE:STLA) and Renault (EPA:RENA) also experienced sales growth, with increases of 6.4% and 22.3%, respectively.

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