Electric Vehicle Sales Soar In The EU During Q3

The most strict mandates for transitioning from traditional gasoline and diesel-powered vehicles to electric vehicles are in Europe. In many parts of Europe, there is a mandate to eliminate all new combustion vehicle sales, and sales of electric vehicles are expected to climb significantly. However, a surprising metric has come out of Europe concerning auto sales during the third quarter of 2021.

According to the data, one out of every five new vehicles sold across the European Union during Q3 was electrified. Moreover, sales of electrified models continue to climb as sales of cars running on fossil fuels have declined. According to the numbers from the European Automobile Manufacturers' Association (ACEA), battery-powered electric vehicles and plug-in hybrid models have accounted for about 19 percent of sales across the EU.

That represents an increase of approximately 57 percent for the quarter, with 212,000 units sold per battery electric vehicle. The numbers look very similar when looking specifically at plug-in hybrid vehicles. In that segment, sales rose 43 percent for the quarter, to nearly 197,000 units. While a significant increase in sales for the quarter was recorded, it is pointed out that the pace of growth is slower than in 2020.

It's no surprise that the pace of growth for both pure battery-powered vehicles and plug-in hybrid vehicles has slowed during 2021 as the pandemic and the chip shortage have significantly impacted the segment. However, when the sales for electrified vehicles are compared to those for traditional cars, which saw a decline of 35 percent, the uptick in demand for electrification is clear. Currently, the European Commission is eyeing a ban on all fossil fuel vehicles starting in 2035. However, it would appear that European consumers are embracing electrification before that ban is official.