Currents Of Change: Battery EVs Surpass Diesel For 1st Time In EU

The market share of battery electric vehicles in the European Union reached a significant milestone in June, surpassing diesel for the first time at 15.1%, according to data from the European Automobile Manufacturers' Association (ACEA).

What Happened: Gasoline remained the most popular choice among auto buyers, followed by hybrid-electric cars. Overall car registrations in the European Union exceeded one million units for the month.

Battery electric vehicle registrations saw a significant increase in the largest markets, including the Netherlands, Germany, and France, with a 66.2% rise, reaching 158,252 units in June. In the first half of the year, a total of 703,586 battery-electric vehicles were sold.

Notable Winners: Among individual players, Tesla Inc TSLA recorded the highest growth, with a remarkable 168% jump in vehicle registrations last month, totaling 34,824 units. Volkswagen VWAGY remained the most popular automaker in the European Union, with over 273,000 vehicles registered, closely followed by Stellantis NV STLA with approximately 189,000 vehicles registered.

Why It Matters: The European Parliament approved a new law in February banning the sale of petrol and diesel vehicles starting in 2035. The legislation is part of a broader effort to combat climate change and accelerate the transition to electric vehicles. 

However, some countries, including Germany and Italy, are seeking to water down the legislation due to the presence of major legacy automakers like Volkswagen, Mercedes-Benz, Fiat, and Ferrari in their regions.

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