EV growth struggles in Europe

After three years of rapid growth, EV adoption appears to be losing momentum. Although new EV registrations showed slight growth during the first half of 2024 (+3%), they made up only 12.5% of total registrations, down from 12.9% in the same period in 2023. In June alone, registrations fell by 1% to 156,408 units, with the EV market share declining from 15.1% to 14.4%. Despite significant gains in Belgium (+50.4%) and Italy (+117.4%), these increases could not offset double-digit declines in major markets like Germany (-18.1%), the Netherlands (-15%), and France (-10.3%).